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Author Topic: Lost Bitcoins  (Read 917 times)
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July 14, 2018, 02:49:48 PM
 #141

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Lost bitcoins are lost forever because we are using wallets today that are multi ecnrypted since the purpose of your wallets is to safely hide your coins from hackers.

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July 14, 2018, 09:39:22 PM
 #142

In this world of cryptocurrency it is a must to secure your own copy of your important details, bad things happen everytime you must prepare for it, if anything happen to your bitcoin information probably lost then you don't have to worry because you have back up copy.

And as always it depends on you personally. You need to keep your password and keys in some safe place maybe not on your computer but on a piece of paper.
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July 14, 2018, 10:45:27 PM
 #143

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
I believe that at this time you should limit and almost no trade, you can see that the crypto market is constantly fluctuating and difficult to guess, bitcoin prices are constantly falling and with the variation I think the bitcoin price will probably continue to drop further as the market is in downtrend.

I think that at this point you should stand outside the market waiting for bitcoin to recover again to resume trading.

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July 14, 2018, 10:54:09 PM
 #144

right so many people lost their bitcoin because simple thing like forgot the password,we know that bitcoin supply always decreasing if people still lost bitcoin

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July 15, 2018, 01:24:23 AM
 #145

It is so hard to move on when you lost your bitcoin like for example, forgot password or lost back up phrase for account recovery and that is why it is best to keep a hard copy of the back up phrase and also the password of your wallet so if ever that you forgot or lost your soft copy of your back up phrase then you have a back up.

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July 15, 2018, 08:36:52 AM
 #146

while the bitcoin proprietor is lifeless, or the hard pressure is broken, it isn't an error. and that i assume it is not an absolute factor which could make bitcoin lost in the marketplace. due to the fact if bitcoin is misplaced at no cost, there need to be extra get better.
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July 17, 2018, 12:02:19 PM
 #147

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
Yes, it's sad. Almost 4 million bitcoins are lost forever. In the future, even more bitcoins will be lost, but the growth rate of this indicator will significantly decrease, because their current value motivates people to take a much more careful attitude to the storage of cryptocurrency.


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July 18, 2018, 06:00:03 AM
 #148

Bitcoin still remains the best despite the issue of fallen. However I still believe that bitcoin rules the cryptocurrency althrough
There is no doubt about that. Despite the fall, People have been holding their crypto and hope to find a green market. This is the just because of the potential of the Bitcoin that was witnessed last year in the form of profit. Right now, we have a rise in the value of the coin and this rise attracted some potential investors as a result of which the prices will experience an up thrust which is something much desired.
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July 18, 2018, 08:21:48 AM
 #149

I would think tht we should just mive on from that. I mean how else will the system is know tgat a particular wallet containing crypto currency has lost access by the owner? Is it the logs? But what if another wallets from another person just doesn't open their wallets. I mean if the Bitcoin or any crypto currency is lost then so be it.

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July 18, 2018, 08:33:12 AM
 #150

Sad when the forgetful nature of a human being starts to recur when we do not want it to happen when we need that memory to open a bitcoin virtual wallet. So it is better, we always back up all the data that exist in case that the forgetful nature of a human that happens again and make a loss against our own.



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July 18, 2018, 08:35:55 AM
 #151

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
Yes, it's sad. Almost 4 million bitcoins are lost forever. In the future, even more bitcoins will be lost, but the growth rate of this indicator will significantly decrease, because their current value motivates people to take a much more careful attitude to the storage of cryptocurrency.
Where did you get the number 4 million? Do you have a source?
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July 18, 2018, 08:40:24 AM
 #152

What a careless world we have if that ever happens. But for the sake of your imagination, then the cryptomarket will be in chaos as none of these cryptocurrencies will be used anymore. No more transactions will be made which equates to a dead cryptoworld.

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July 18, 2018, 09:01:04 AM
 #153

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Pitiful when the distracted idea of an individual begins to repeat when we don't need it to happen when we require that memory to open a bitcoin virtual wallet. So it is better, we generally move down every one of the information that exist on the off chance that that the distracted idea of a human that happens again and make a misfortune against our own.
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July 18, 2018, 09:15:01 AM
 #154

The imagination is far beyond the reality , There are still millions of bitcoins still to be mined. and i don't think someone with 1000 or 1500 bitcoin would just let in get lost or make it un accessible to his/her near ones. However there might be cases with tiny portion of total circulated coins being lost resulting no effect.
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July 18, 2018, 09:57:46 AM
 #155

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
why? even if 90% of the BTC is lost we will just be using the remaining 10% and it will be 10x more expensive. That's all
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
Again: nothing will happen, the price of the remaining assets will be higher and that is all.

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July 18, 2018, 10:21:54 AM
 #156

I think that's a good thing. Those lost coins will forever be held and neer converted. So basically we are assured that these coins will not be sold no matter what. I think at some point that these coins will be returned to the owners or something. It just sucks for the owners to lose them. I would definitely cry if that happens to me

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July 18, 2018, 10:33:19 AM
 #157

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Someone losses their wallets because before the value of bitcoin was not much valuable which Is very low value rate, so they don't  care about their even It will lost. And now they're trying to find their wallets because they notice that the value of bitcoin really huge  unlike before past about 4 years ago.

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July 21, 2018, 06:05:20 AM
 #158

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
How do you even know when there are lost Bitcoin? How can you tell, when everything is private or so (I don’t know how to tell it, but it will be really hard to find out when there are lost coins, unless maybe they will start to be checking out which wallets or addresses are inactive and when they see inactive wallet and addresses they shift the coins in to exchanges or so.Another thing is that when there are not enough coin in circulation, the price for a coin will be very high.

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July 21, 2018, 04:14:48 PM
 #159

Surely such a problem would disrupt the price of a coin so that makes traders become worried when problems can not be anticipated quickly because to earn income becomes difficult and patience is definitely in need.

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July 21, 2018, 04:39:08 PM
 #160

right so many people lost their bitcoin because simple thing like forgot the password,we know that bitcoin supply always decreasing if people still lost bitcoin
That is true but in some way we cannot speculate how many of coins are lost forever so the only possitive thing is that they won't really change the market and situation on it for me.

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