donbu7 (OP)
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Activity: 119
Merit: 10
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November 12, 2013, 07:26:36 PM |
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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MaxBTC1
Newbie
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Activity: 56
Merit: 0
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November 12, 2013, 07:27:45 PM |
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There's a graveyard somewhere deep and hidden along with all my lost socks and tootbrushes
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cyclops
Legendary
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Activity: 1162
Merit: 1001
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November 12, 2013, 07:45:03 PM |
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Neither replaced or recovered, lost forever! Or until a Quantum computer breaks private keys  Look at it this way: For each coin lost the others increase their value (as the have to absorb the value of the first coin.) |
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irpirate
Newbie
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Activity: 56
Merit: 0
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November 12, 2013, 11:58:38 PM |
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There's a graveyard somewhere deep and hidden along with all my lost socks and tootbrushes
How do you even lose a toothbrush  As for the the lost bitcoins, they'll remain lost. |
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JessicaSe
Legendary
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Activity: 840
Merit: 1000
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November 13, 2013, 07:33:33 AM |
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Its not gone forever but its in BitcoinCZ forever until you do something to it  |
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kik1977
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November 13, 2013, 08:02:29 AM |
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Its not gone forever but its in BitcoinCZ forever until you do something to it +1 They will probably deactivate your account at some point, look at their terms of reference to know when. At that point they will take your satoshis! Not lost in this case, that's for sure! |
We are like butterflies who flutter for a day and think it is forever
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BitchicksHusband
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November 13, 2013, 09:56:01 AM |
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Neither replaced or recovered, lost forever! Or until a Quantum computer breaks private keys Look at it this way: For each coin lost the others increase their value (as the have to absorb the value of the first coin.) But isn't that the day that ALL bitcoins are lost? |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Barek
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November 13, 2013, 10:56:20 AM |
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But isn't that the day that ALL bitcoins are lost?
If 0.01% Bitcoins are lost everyday, how long does it take for all of them to be lost? |
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bythesea
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November 13, 2013, 11:41:23 AM |
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Probably nothing  |
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rpietila
Donator
Legendary
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Activity: 1722
Merit: 1036
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November 13, 2013, 11:49:42 AM |
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But isn't that the day that ALL bitcoins are lost?
If 0.01% Bitcoins are lost everyday, how long does it take for all of them to be lost? After 900 years, there will be 11 satoshi left. |
HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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Barek
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November 13, 2013, 12:01:04 PM |
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After 900 years, there will be 11 satoshi left.
Along the way more digits can be added, making those satoshis infinitely divisible. Today's 64 bit is somewhat arbitrary. We'll let future generations sort that out. |
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theecoinomist
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November 13, 2013, 02:19:12 PM |
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in this scenario I would assume BitcoinCZ eventually gets the coins.. |
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Johnny Bitcoinseed
Full Member
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Activity: 154
Merit: 100
Johnny Bitcoinseed
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November 13, 2013, 03:34:58 PM |
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Ask the US Postal Service where all their lost packages went. Nobody knows, gone with the wind.
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jeppe
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November 13, 2013, 05:38:43 PM |
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They are lost forever :/ its sad but there is no way of recovering the lost coins :/
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superduh
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November 13, 2013, 05:40:33 PM |
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TBH in the next few years they need to write a script
if bitcoin hasn't moved addresses in 50 years then block those coins and redistribute as block reward.
thatd be neat
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ok
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rpietila
Donator
Legendary
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Activity: 1722
Merit: 1036
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November 13, 2013, 05:48:02 PM |
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Why, that would just be plain stealing, wouldn't it, Mr. President?
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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superduh
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November 13, 2013, 06:02:20 PM |
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Why, that would just be plain stealing, wouldn't it, Mr. President?
no, if noone touches the coins for 50 years you'd be stealing from a dead person or someone who doesn't care to have them. common sense  |
ok
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cyclops
Legendary
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Activity: 1162
Merit: 1001
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November 13, 2013, 06:24:10 PM |
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Why, that would just be plain stealing, wouldn't it, Mr. President?
no, if noone touches the coins for 50 years you'd be stealing from a dead person or someone who doesn't care to have them. common sense Ok then, this man bought them at his 20s, saved them for a retirement then when he is 70 years old you take his coins? Imagine you have a property you don't use and someone takes it from you, What is this? Comunism! |
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xan_The_Dragon
Sr. Member
Offline
Activity: 322
Merit: 250
I AM A DRAGON
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November 13, 2013, 06:43:57 PM |
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why do people insist on redistributing long lost coins, if all the coins inactive for a year were redistributed, it would most likely crash the price due to the huge increase in supply
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MfFMEpgL5Ma9C2yw6iSsSX4QcbSVzjm6iK
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Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
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November 13, 2013, 07:54:46 PM |
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Neither replaced or recovered, lost forever! Or until a Quantum computer breaks private keys Look at it this way: For each coin lost the others increase their value (as the have to absorb the value of the first coin.) Quantum computers will probably never be able to do that. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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