Miss Bitcoin

[fabiofem]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

[1714192951]

1714192951

[drakegon]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Those money will stay lost forever and the price of BTC will increase even more as the demand will increase as well.

[OmegaStarScream]

As said above, they won't be re created and even If we assume that is the case, how is it going to work? what would be as a proof that you lost the bitcoins? Like satoshi said, with the limited supply, think of it as slightly donation for everyone (less supply).

[Caesar-Giulius]

The maximum supply of Bitcoin is 21 millions, there won’t be additional creation every time someone buy Bitcoin. If you have lost your Bitcoin, it will remain lost. You can only buy it from the market to own it again.

[charlotte04]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If you lost that kind of Bitcoins, the result would be losing that kind of amount forever and I think no one could recover it.

[jmiro1]

The maximum amount of Bitcoin is a constant figure, which is 20999999.9769 BTC. Mostly it is assumed as 21 million BTC. So, creating bitcoins as you like is not the thing that happen as you are thinking. I hope you understand that. Thanks

[SiDtHeBeSt]

If someone loses his/her bitcoins, it won't ever be recovered or recreated or anything. Bitcoins lost like these would stay lost forever and the supply of bitcoins will decrease, which will indirectly result into rise in the price of bitcoins. As you would know, bitcoin is a currency which has limited supply, thats the reason it keeps on going up. Higher demand than supply.

[fabiofem]

Thanks guys, I understood, I'll save my bitcoin cents!!

[Rinsend]

nothing will prove that you will lose bitcoin.
but as we expect bitcoin prices will continue to increase.
maybe here is not your bitcoin that will be lost.
but the selling price of bitcoin can cause you to lose your money

[JamesIV]

There are thousands people lose their private keys every day. And it does not effect in Bitcoin value. Besides, those Bitcoin can not be used because no one know the private keys.

[HabBear]

Does the system need to re-create those money?

One of the primary advantages of Bitcoin is that "the system" will never create more than 21 Million coins. This preserves the supply available and therefore the value of Bitcoin. Today's fiat-based currencies are managed in the opposite way, where Central Banks print more money as they need to to control (and manipulate) the value of a currency compared to others. This "need" is done to allow a Countries goods to remain affordable for other Countries, so exports remain high and income and GDP remain high.

What this also does is erode the value of the fiat currency, which is why prices for goods and services increase even though it's easier to produce the good/service.

There are thousands people lose their private keys every day. And it does not effect in Bitcoin value. Besides, those Bitcoin can not be used because no one know the private keys.

Wrong, it absolutely affects the Bitcoin value. With fewer coins available to be sold the price of bitcoin stays higher than it would if no coins were ever lost.

[Jake_Shannen]

Yes, I think that made the entire BTc work with all the unlimited supplies that can be made it was ensured that BTC has a limit.

[malikusama]

What you are trying to ask? Do you want to know about the effect of huge number of lost bitcoin over its market value?
Bitcoin has fixed supply and no one can recreate bitcoin, once the bitcoin are lost they are lost forever unless or untill someone try to access his lost bitcoins and claim them with the help of service provider, however the probability of recovery is too low.

[Naficopa]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

These lost bitcoins are already lost and will never be recovered. The number of bitcoins is limited and the system can not create more than 21 million.

[fabiofem]

So if I were a big bank and wanted to get rid of bitcoin, would I just buy them and lose them?   That simple???

[CryptosapienZA]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Then those bitcoins are gone forever. No the system won't recreate lost bitcoins because that will mean the supply will increase. That is what makes bitcoin unique is that the supply is fixed.

[Swenna]

If you look at the cmc, you can see that out of the 21 million supply of bitcoin, only 16,779,400 BTC is in the circulating supply, meaning the remaining is either being hold and kept by Satoshi, the devs and some whales while the others are completely lost forever. If we somehow decided to gather up all the satoshis we have to complete the 21 million btc, it will never be completed as the others are already lost in forgotten wallets and such. There will only be 21 million bitcoin that will be created and mined. You can consider it as some sort of natural resources, limited and non-renewable.

[skyland999]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

the money will disappear will not come back, but the money will reappear with a higher value

[BabyBoss]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Bitcoin is decentralized coins but not like cash that even the government said recreate again then they will but bitcoin has circulating supply which is means no re creation because I believe that if they create again some supply there are big trouble where there are chance that satoshi nakamoto loss all of what he has done, maybe the possibilities is it can ruin the marketing platform of bitcoin. So, no need to re create if the total supply already sold then wait for the stable price of each btc.

[Janine012]

NO. It cant revert it or retrace back anymore no matter how big it is. It is one of the block chain characteristics ,is that it is immutable. No one can change what has been transpired as there are million of blocks of transactions that need to be undone first. So keeping your wallet and private keys in tact is very important.

[RawDog]

Dude - wtf??~  

This is Miss Bitcoin...

[kc999991]

No the Bitcoin will be lost and no one will be able to get it back as it is decentralized. Seen a lot of cases where people threw their hard disks away with thousands of bitcoins stored in there. This is one of the common examples of bitcoin missing forever.

[VitKoyn]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If someone is careless to lose his Bitcoin without having any backup of his private key, it will be lost forever and no one can access it anymore (since private key is the only way to recover it). Anyway this is not a problem instead it will be the reason for Bitcoin price to increase because the circulating supply will be reduced while the demand are continuously increasing. Bitcoin cannot be re-created because Satoshi Nakamoto set a fixed supply for it, possible to create Bitcoin through hard forks but that is a different coin that works in a separate network like BCH.

[mOgliE]

Hi,

I think it depends on what you mean by "lose". If they lose access to their digital wallet.. then, the bitcoin on it are indeed lost. The system (and the blockchain) can allow to know where it is, but it shall remain stuck there.

Then, if you are talking about unreliable transactions with uncertain effects.. Then I am pretty sure that bitcoin cannot be lost. Stolen, maybe, but they cannot disappear!

[brokens]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

maybe many people who are careless because about losing their bitcoin. this may all be caused because not to have full security on the wallet or they bank.

if the security in their wallet is very good then for losing bitcoin may be very thin.

[Clos Belmont ICO]

If you loose them - you loose them forever, so everyone should be careful and keep them in secure place, in secure proofed wallet or even few wallets, and keep password very carefully

[Buttercup123]

Bitcoin is limited,  thus cannot be recreated therefore if one buy a huge amount and he died without anyone knowing his account details and password, the bitcoin total amount of bitcoin in the market will be lessen. The price will then increase because the btc network just follows the law of supply and demand. If there is a huge demand but less supply, then the price would be high as possible.

[Ayaancool]

If you got loss in this kind of investment I don't think so you can recover from this huge loss. And then there is no need to recreate it but it may one of the couse to increase it demand in crypto market.

[LTU_btc]

Dude - wtf??~  

This is Miss Bitcoin...

LOL, my thought was very similar when I saw title of thread
That girl claims to be Miss Bitcoin:
https://twitter.com/missbitcoin_mai

[jaggijagjit]

If any one can lost his BITCOIN then he never got back his bitcoin again. These lost bitcoins never recovered or recreate.

[darkywis]

If that's the case then it will be lost forever and the circulating supply will decrease and the price vary after that.

[sabine80]

When i understand the system right this bitcoins are lost for ever. It give no way to resume this coins. 21 Million is the max cap of bitcoin. Its never possible to make more bitcoins than this number. I read somewhere that at the moment already more than 3 Millions bitcoins are already lost for ever.

[Pasadoble]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Not it will not be re-created, this is for sure.

[Whibu]

If we lose a lot of bitcoin and see the current price, lifelong regrets must always overshadow the journey of his life.

[etron]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

losing some bitcoin will make a sad person disappointed and regret coming because it is impossible to return if there is a machine that can return it is great, but it is not possible. if with this situation there will be no one who wants to invest again.

[cryptotricks]

That will stay lost forever. It's just like burying your fiat money on ground and its not coming back. There is this guy who must be the biggest loser of this kind who threw $127 million dollars into trash and that goes to waste management site and goes forever..

[LuckyNicky]

Dude - wtf??~  

This is Miss Bitcoin...

LOL, my thought was very similar when I saw title of thread
That girl claims to be Miss Bitcoin:
https://twitter.com/missbitcoin_mai

Wow! Such a cute girls )) If a had a chance to share with them my bitcoins

[RawDog]

Wow! Such a cute girls )) If a had a chance to share with them my bitcoins

For far, far less than a bitcoin, these girls will let you do just about anything you can think of to them.  OWO, DFK, ALevel, DT, CIM, - you name it.

[charlotte04]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If you do not have the way to recover it through you secret seed or something let us just say good bye to your lost Bitcoins forever. And it will be a waste of supply.

[Ciscopro2000]

If you lose your Bitcoin, it’s like losing cash.  It is gone forever, unless someone finds it and willingly returns it to you.  There is no way to get a third party to replace it for you.  Thus it is critical you understand different methods to store and backup your crypto currency. 

[Wicked17]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

No, that missing bitcoin will be lost forever, there is no chance to retrieve it unless the owner of that coin will remember the private key of that wallet. So its better to forget your girlfriend than forgetting your bitcoin wallet that contains 10000000 btc lol. Say bye bye to those coins.

[jeni99]

the lost will not return.
stay a way to keep it from missing.
many factors make us lose bitcoin inside wallet.
one of them.
This is the most common error experienced by Bitcoin Users. They visit an apparently genuine wallet website originating from a link sent to their E-mail. Do not click on the link in the E-mail asking you to login to your wallet, it's almost certainly fake. And make sure your wallet web address is correct! Also just use a trusted web wallet.

[cynical]

Because bitcoin is not a physical item they cannot be reissued.
They are either with you or with someone else.
They are not going to be on the table or in the drawer 
Once you have your coins it is up to you to make sure you either spend them properly I.E send them to the correct addresses and to the correct recipient,
or you store and secure them safely

[Ranly123]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

No, those lost bitcoin cannot be replaced and if that happens then it could make the price of bitcoin rise. Since there will be limited amount of supply in bitcoin, then we have to secure every bit of it. But since the system knows where those bitcoin is then it would serve as hodlings and posibly cannot be recreated.

[matuson]

If theoretically to assume that a mechanism will be established to recreate the missing coins; then who will control it? What happens if you then find the lost coin? No coins cannot be recreated. Any system which makes use of the human factor are not protected from abuse. That is why I think the bitcoin system should work without the possibility of outside influence and rule changes. But the constant upgrading of software needed. Without it bitcoin would not be convenient to use.

[LeonardoDiCrypto]

You should learn English to properly formulate your threads. I thought this would be a thread dedicated to a beauty contest where you would elect Miss Bitcoin. Which by the way would have been an original thread at least.

[Nilda]

The winner of the inaugural Miss Bitcoin beauty pageant will get the Satoshi Nakamoto Trophy and 100 bitcoins.

[Dudeperfect]

Bitcoin is based on a decentralized blockchain technology and hence public ledger called locks are maintained by each and everyone involved in the Bitcoin network. Thus, if you want to transact using Bitcoin then you should have private keys to access Bitcoin funds through which you can broadcast your transaction for the Bitcoin network in order to confirm the same. However, if you are losing the private keys containing Bitcoins in the wallet then there is no way to spend those funds. Remember those Bitcoins will be there in those wallets but since no one will have the private keys to spend those coins, that wallet/Bitcoin will be locked forever.

[HasHe]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Its not like paper money to get reprinted and sent for circulation.Its a crypto currency having a limited supply which remains unchanged.If some bitcoins are lost due to the loss of the password,then they would just remain idle forever until we recover it by remembering our password.

[yanesna3]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If somebody loses his Bitcoins, he will not get them back. Unfortunately we all heard about these sad stories. Some guys lost millions of dollars on it, and they could not change the situation. The way out will be to buy BTC again and start your business again.

[shasimiky]

I hear that there are also a number of tutorials to recover bitcoins in cases of technical difficulties or You can lost billion dollars 

[justspare]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

No, those lost bitcoin cannot be replaced and if that happens then it could make the price of bitcoin rise. Since there will be limited amount of supply in bitcoin, then we have to secure every bit of it. But since the system knows where those bitcoin is then it would serve as hodlings and posibly cannot be recreated.

Practically, it should not be impossible for the core to develop or release more Bitcoins than we already have but again the question is would the team increase the amount of Bitcoin or not and I think we all know the answer already. No new Bitcoin are going to be created. Therefore once someone has lost this digital asset, it is as good as dead. He can never ever bring it back .no one can.

[Ada567]

Lost lost, will not help you re-create, unless more than buy.

[juiceannabel]

that is the worst scenario.
but i think if that happen, the bitcoin balance will stay there forever.
No ones can save the balance, then it will decrease the bitcoin circulating supply

[Spades77]

From what I know, we can never re-create lost Bitcoin. Once it is lost, it will remain forever lost. The supply of Bitcoin is constant, 21 million. so lost bitcoins will have an effect on the supply and demand of Bitcoin in the market, hence affects its value. 

[G2z_Riya]

Lost is lost forever, this is the unique thing that is found in bitcoin compared to many other sources that are available for the purpose of investing as well as to serve as a transaction medium between the sender and the receiving person. The lost coins will get added to the list of number of coins mined.

[shimbark123]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

They won't be "re-create" again. Once lost, it is all gone forever. That is why it is really needed for you to double, triple check everything. I lost a big amount of money just by transferring of fund. About .3 btc. I regret that because I didn't rechecked the btc address. It was now gone.

[Shrinath]

The creation of Bitcoins had to implement an extremely organized technology behind the security of the Bitcoins being created. It’s extremely improbable, and effectively impossible to recover Bitcoins once they are lost. This is what the security of Bitcoin is actually based on. If you’ve lost your private key, the system is so secure that you may not be able to recover it. However, recovery is possible if you remember an inkling of your password. But, if you were pretty sure that your passphrase contained words from a sentence from ‘The Return of the King’, but you’ve forgotten which page, then Wallet Recovery Services my be able to provide help.

[chickenfried12]

whis one is miss bitcoin left or right and i really miss bitcoin are looking very nice can we trade them

[mutrang23]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Those money will stay lost forever and the price of BTC will increase even more as the demand will increase as well.

I also think that as the request from the market increases, but the supply decreases, the price of the bundle will start to increase and may increase more than ever.

[AdTraxis]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

There's nothing like 're-creating' new bitcoins. Once they are lost, they'll be gone for good. Chainalysis(digital forensics firm) estimates that around 4million bitcoins have so far completely disappeared (out of circulation) and this is based on a detailed empirical analysis of the blockchain.

[Alex_nutis]

I think that in our time, bitcoin is lost only to beginners who have 0.1 or 0.05 bitons. Any person who has 0.3 bitcoins and above will take all security measures.
If the bitcoins were lost, they would be lost forever.

[JennetCK]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

It will not re-create the money that you used to buy bitcoin or the 10,000,000 bitcoin will not be created again. There is a 21 Million total supply of bitcoin and it will not be created again. If you lost it, then it's you loss. That's a huge amount you got. It will be your biggest regret in this world.

[neo444]

If someone loses their bitcoin he can't back his btc and it is gone forever and for that reason you need to invest and work with your btc in trust sites to make more btc and for don't losing your bitcoin

[datodota002]

If you lose your bitcoin with that amount you will be make the market price floating. and make bitcoin player become more less because with that amount bitcoin price will very expensive and only the rich can buy it. bitcoin will not re-created.

[jaylhynne018]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

i think it will be lost forever and i think the price of bitcoin can will be increase at the high price so for me if that happen i will miss my bitcoin forever.

[Kidmat]

If someone loses their bitcoin he can't back his btc and it is gone forever and for that reason you need to invest and work with your btc in trust sites to make more btc and for don't losing your bitcoin

When someone lost or missed bitcoin the answer could not be revertible. Every transactions that we have is already final and it is already processed in blockchain. Yes this is also important that we have to verify if legit before you put your money. However, private keys of your bitcoin must keep in a safe wallet or else it will gonna miss already.

[crzy]

There’s no way to get back your bitcoin unless you know that person but since we are in a world that people are full of greed you have to say goodbye for that. Secure your bitcoin if you can’t afford to loss it don’t trust anyone you don’t know personally.

[oppasong]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If it happened to me I would definitely regret it because by losing 10,000,000 I lost a savings I've saved for years, but it's all back to me personally for how I keep so much bitcoin well.

[abhishek273b]

 :)There are thousands people lose their private keys every day. And it does not effect in Bitcoin value. Besides, those Bitcoin can not be used because no one know the private keys.

[boboking]

Sadly no, as long as they do not remember their private key then it wont be touch.

Your example is too big i bet people who have that kind of bitcoin have write or have back up plan to recover that huge amount.

[COINISM0001]

I wish Bitcoin was my GF.

I would be happiest BF around LOL

[anjaydut]

the lost coin will not be able to come back again, and no system will be responsible
because keeping the private key is the responsibility of the bitcoin owner himself

[Harley29]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Those money will stay lost forever and the price of BTC will increase even more as the demand will increase as well.

I also think that as the request from the market increases, but the supply decreases, the price of the bundle will start to increase and may increase more than ever.

This is the problem that people are demanding for bitcoin but the supply is very short maybe this is the reason that price of bitcoin is also increasing. With each passing time more people are getting aware of bitcoin potential and benefits so they are tending to investing in it so with increasing investors’ price of bitcoin will also grow and increase with it. Bitcoin is currency and it will be using forever now matter how much people show interest for it.

[bitvelk]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

This way you will only lose your money forever and no one will be able to use it. So it's better not to experiment, keep all your keys and passwords in safe places and keep working for yourself.

[heureca]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

I don't think that it could be possible. You are responsible for your private keys, passwords and etc. In case of missing your logging data it will be your fault only

[lovepale]

If you buy a large amount value of bitcoin you can over power the price. You can handle everything in the market place. Then you are the one who is richest person in the planet earth. They will not creates again another supply of bitcoin because bitcoin supplies is limited and created to last in the long run. If they will create new probably they will make it in a litebitcoin something like that the furnace of bitcoin. In addition there is no way to do another money for bitcoin.

[hardhouseinc]

How can you loose your bitcoin? You mean if you loose your passwords and you can never recover it? I don't think they create new bitcoins for the missing ones

[moneyangel]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

I think it will lose forever if you can't find the private key on that wallet. The system will no longer replace that because bitcoin has fix quantity and it will increase the price of the remaining coins as the actual circulation supply will reduced due lost accounts.

[Cryptogodfather]

That's absolutely impossible

[Roman Coinson]

It's strange thing,that you don't know trivial information about bitcoin. There are only 21mil btc. And btc doesn't support emissions.

[vladimirnesgibaev1]

bitcoins from 2018 will be out of the law the government has already drafted a bill

[LienTHETRADER]

That's the reason why I don't trust btcs. They don't have any thing ti give us. it just takes all we have leaving no trace

[elwiswoodie]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

if you can buy 10 million BTC
no need to make new coins, just dump the price of BTC
it will make you as tortured slowly
and eventually the investor will move to a neighboring coin

[volcanofetusK]

I am newbie. Can you explain me why cant it be returned?

[dragoz11]

If you lost it will be gone forever and unless you find a way to hack your wallet you won`t be able to get them back. If you lose such an amount you would make a good donation to btc holders at the same time.

[lee cooper]

They won't create any new one, if you lost the bitcoin then it remains lost, nothing you can do about it. They only created 21m bitcoin.

[appleyard]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

No if that bitcoin loss it will remain loss no one can create a duplicate of that bitcoin, there are close to 5% that are already loss and will forgotten for ever, those bitcoin are loss for some reasons: bitcoin already burn from some external, losses their paper wallets  and the owner of some bitcoin already dead.

[jancukiyah]

Oh no, I hope that can't be happen for us. Bitcoin is digital currency, have you ever seen the real bitcoin in your hand? We just look the amount in our wallet right? That's why, when you lost your bitcoin, you can't recover it, you can't got them back for your wallet. No one can't recover it.

[Indiast3]

I lost 5 btcs the previous year and so after that I withdrawed from btc ecosystem

[UCHCHILD]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

Your headline is about Miss Bitcoin and in thread you question is totally different. But about the thread, i have seen these type of stories and recently i hear that one man who bought 9000 bitcoins in 2009 when 1 bitcoin is equal $1 and by mistake he transferred in a wrong link, and now still he has worried about it.

[Dmitry.Vastov]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

First, it is next to impossible to lost bitcoin because it is the digital currency and it remains into ur wallet and no-one is able to steal it unless you share your blockchain password to anyone but if accidentally u lost ur BTC, it's impossible to recover it because it's not the paper currency that u can recover it because there are limited number of BTC that has been created and these BTC are keep on circulating, so once you lost them it's next to impossible to recover them.

[Choyor]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If we lose Bitcoin then it will not get its replacement back and it will be gone forever. The platform for sale of bitcoin, Bitcoin.co.id does not provide any warranty or indemnification for loss of digital assets owned by his client. That's because there is no rule about the loss of digital currency (cryptocurrency).

[bobrova]

There are thousands people lose their private keys every day. And it does not effect in Bitcoin value. Besides, those Bitcoin can not be used because no one know the private keys.

I wish there was some data regarding how many coins were lost this way but I think a lot of early investors and miners (at time when bitcoins was less than $10) might have lost their coins. I have read stories regarding how people lost the bitcoin details on their old system. Now, we are having additional storage options like physical wallet but there was no such information earlier.

Also, if there was some option to report these incidents and get the coins back. It would not have been hard to design in the beggining but the inventors may have not done this as a lot of people would have then tried to abuse this.

[Lenwa07]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

No, bitcoin system will not reproduce it again. There is a total of 21 Million bitcoin supply. If that supply was already bought or created and loss, it will not reproduce again. So be safe about your bitcoin. Even though it will last a hundred of years, we cannot tell when will it vanish.

[AntonDrobot]

Just as gold bullion can get lost in the sea or 100 dollar bills - burn, bitcoins can disappear from the Internet forever. By the time of the production of the entire stock of bitcoins in the amount of 21 million coins in 2040, the actual number of coins available for trade or waste will be substantially less.

[hajimasan]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

If someone lost his money ( bitcoin amount ) then no one can change or Destroy and not able to create again for that return .
If you have better information about bitcoin then surely you will know very well that about 60%+ bitcoin as out of control , Because many people started to work with bitcoin when bitcoin was not valuable at that time but they left Thier work and also many sites get closed and that results into lost of bitcoin in the bitcoin network forever .
And also you can think that if anyone can see what you lost and they will create another for that then I don't think it will remain decentralised thing .
So no chance to recreate bitcoin that you lost , but surely there exists a technology named fork that can create additional new coin with another name ( as happened in fork that results into bitcoin cash , bitcoin gold , bitcoin diamond , bitcoin ab , bitcoin private etc ) .

[magicmeyk]

The only thing you can do is to find your private key of your wallet to retrieve your bitcoin if ever it you will lost it.

[GamerPapaRoach5]

Bitcoins world is like a huge galaxy where when a btc is once gone, its gone forever

[sparrowtins5]

Are you mad? a lost coin cant be returned back and how could it be, it has no track record nothing.

[BitcoinHunt3r]

Are you mad? a lost coin cant be returned back and how could it be, it has no track record nothing.

even lost fiat can't be returned again how can bitcoin get returned  , people nowadays ask something funny. if bitcoin can recreated people wouldn't worry to safe their asset wherever they want

[Eureka_07]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

The system will not be going to replace what has been stolen because it is said the agreement that anyone who loses their bitcoin, the system will not take responsibility for it because it is your bitcoins and you are the only one who is assigned to secure and keep it in a safe place. So, the best way for it not to be stolen and lose is to keep it in a hard wallet.

[Verona25]

By the way, very many believe that Bitcoin will fall down in the near future, it does not seem to us that Bitcoin will live for a long time and in future years will become official in 10 years.

[SanjuanaBorn]

true

[Copulative]

In the event that you lose your bitcoin you can't recuperate it,it will remain gliding noticeable all around. It won't reproduced in light of the fact that there is just a restricted supply of bitcoin. What's more, in the event that you lose that huge amount,it will lead for the expanding of interest that makes likewise the bitcoin cost expanded. So be carefull and constantly secure your bitcoins.

[yansen]

the system does not create bitcoins that are already mined and stored. because the chain block goes forward. some people never lose their bitcoin between 600- 1000btc in harddisk and it does not return.

[krishnaverma]

If you are having 10000 bitcoin and not careful enough to keep it safely, you deserve to loose it. It is understandable that some person who used to mine or buy in early stages (when it was $1-$10), he might have taken it lightly and thus forgot about the investment. But someone investing at current price levels, $10000 or so will certainly have the wallet and password details written at multiple places.

[blue_city]

You will lost all

[johnnythunder]

In the event that you just lose your bitcoin you cannot recuperate it,it will stay sailplaning noticeable all around. It will not reproduced in lightweight of the actual fact that there's simply a restricted provide of bitcoin. what is additional, within the event that you just lose that vast quantity,it will lead for the increasing of interest that creates likewise the bitcoin price distended. therefore be carefull and perpetually secure your bitcoins.

[Raimy]

Dude - wtf??~  

This is Miss Bitcoin...

There we go, this was totally the type of thing I expected to see when clicking on the title of this post.

[Kusnechik]

If you lose part or all of your bitcoins, then there's nothing to be done about it. These are the laws of the market. Enriched only a small part of the participants at the expense of others.

[jlong187]

As I heard, the are lost forever, but the rest of bitcoins will be a little bit more valuable becouse of it. But better is not to loose them indeed!

[vadimkr]

Unfortunately, there's nothing to do... I know that from personal experience at the beginning of my Bitcoin journey when I still didn't really understand it and was pretty careless.

[Sudarmoon]

It's a lot to be questioned by many people, and I think if somebody loses their bitcoin, the bitcoin will be forever reduced and irreversible, and it is certain that the number of bitcoin in the whole world is not even 21 million bitcoin, because there are those who lost bitcoin.

[maianh09]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

I have seen the same thing posted on this forum, there is one writer that he has lost his private key and which holds a lot of Bitcoin in bulk. There is not any support provided by the developers directly because this is a huge number. If this happens, it's hard to get support from others.

[carlisle1]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

in this case all holders will be celebrated because for sure the price of bitcoin will double instantly or maybe x5 since thats 10 million coins thats will be missing in action...i have a friend that losses his 15 pcs of bitcoin wayback 2016 if many of his kind losses theirs too then maybe hundreds of thousands of bitcoins is missing now

[gesdan]

if someone lost their bitcoin? about loss their wallet? or private key? or their wallet password? if yes, the sad story will happen because if you lost your private key you will lost your bitcoin forever, and you can get it back forever unless you got your private key back,, and you can get your bitcoin back

[redsap]

and no one knows about your bitcoin and supply will not re-create again
it will be lost forever the system makes so complicated so no one can created it again

[crossabdd]

when you buy 10.000.000 bitcoin and you lose it. then it will not come back and will not be created. bitcoin network will keep running and create new coins. but it's not your bitcoin. if you save it in wallet hardware and it is destroyed. then your bitcoin will be lost but the block remains. and can not be copyrighted anymore.

[altercreed]

I think it will stay there in their wallet forever and it's like that amount of bitcoin are kept for hodling. It will be hidden treasure but the problem is how to open it when they lost their private keys already.

[Joyawan13]

when you buy 10.000.000 bitcoin and you lose it. then it will not come back and will not be created. bitcoin network will keep running and create new coins. but it's not your bitcoin. if you save it in wallet hardware and it is destroyed. then your bitcoin will be lost but the block remains. and can not be copyrighted anymore.

hopefully it will never happen to us, I can not imagine it if I will lose a lot of bitcoin I have, so we should be more careful to be able to store and keep the bitcoin we have, if we lose our bitcoin, that no people which can help we to return the bitcoin we have.

[Sweetbtc]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

There's no way to recover it. It will lost forever and won't be re-create again. In return the demand of bitocin increase and supply decrease which case increase the price. So its better to save your private keys somewhere or tell someone closest you know about your key. Private key is the only way to get access to your precious coins.

[ElizRu]

You can not buy what does not exist. Any currency in a limited circulation and the more it is created, the more it depreciates.

[Ishiro5]

This is the one of the most interesting features of bitcoin and every other real cryptocurrency, the INTRINSIC value; it is what protects bitcoin economy from inflation and perhaps what would have been supply manipulation. So it means if i have the private keys of x number of bitcoin and lose that private key without back up or something else happens that makes the person unavailable, then what would be left for the rest of the world would be 21million btc minus 'x' btc.

[hanabii]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

it is a very annoying and very regrettable mistake. I really can not believe that the system will return or refund the money. something that happens because of our own system error has nothing to do with it

[EzzNju]

Is it possible to recover lost bitcoins,or is this the reason regulations are being introduced to cover such issues

[Adv Tahmina]

Losing some bitcoin will make a sad person disappointed and regret coming because it is impossible to return if there is a machine that can return it is great, but it is not possible. if with this situation there will be no one who wants to invest again.

[israfil]

I think your Bitcoin may be lost for a lot of reasons. You have to prove your loss of Bitcoin, I think it can be restored. I think the market value of Bitcoin demanded that the market value would increase.

[brickafterbrickwalldpt]

Of course not. If such thing happened, the maximum supply of Bitcoin would increase which is something we want to avoid at all costs. Governments print additional money as much as they can which lead us to where we are. How would you lose 10 millions of bitcoins? If you had that many, you wouldn't keep them in one wallet and definitely not in one physical place. Nobody is going to refund your transactions, they are irreversible because of how Bitcoin was designed. You can only buy BTC that was already created from another person.

[K0korap]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

I think this still goes to the simple concept of conversion of values from one currency to another. You can just think of BTC as a new currency that is generated throught digital platform. You can'y create unlimited supplies of BTC since it is based on the value that it acquired through investments.  

[mkcube]

This is the time that i wont happen,the maximum supply of btc would increase in which is something we want to aboid at all cost.Maybe the value market value of btc demanded that the markwt value would increase.

[freesia_pnp888]

no, it stays forever, it's how crypto works in general.

[The_prodigy]

no, it stays forever, it's how crypto works in general.

If someone loses her/his bitcoins, it is impossible to recreate or recover it. Sad to say but it's that's the truth, so the best thing that you can do is to take care of your bitcoins. If you lost that kind of bitcoins, be ready for the result because no one could recover it. There's no such thing like recovering bitcoins.

[invincible49]

It feels bad every time we hear someone has lost their bitcoin or altcoins. I hope this has not happened to you. OP, you got your answer in the first page. So you should close the thread.

[pawitrawijaya]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

I think, the system won't re-create the money again. Because they will probably ask about your reasons, "why your bitcoin can loses?", or anything about that.

[Krispin47]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

you can see that out of the 21 million supply of bitcoin, only 16,779,400 BTC is in the circulating supply, meaning the remaining is either being hold and kept by Satoshi, the devs and some whales while the others are completely lost forever. If we somehow decided to gather up all the satoshis we have to complete the 21 million btc, it will never be completed as the others are already lost in forgotten wallets and such.

[Itha_]

What happens if someone loses their bitcoin? Let's imagine that I buy 10,000,000 bitcoin for example. Does the system need to re-create those money?

The system has ensured that the maximum number of bitcoin in the world is 21 million BTC so there will be no inflation. We see and wait whether the future time of the system re-creates.