Blong17 (OP)
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April 26, 2018, 04:50:25 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
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lx001
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April 26, 2018, 04:54:35 PM |
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Yes, they will be lost forever, everyone can see them but nobody can touch them. There are still loads of people who are not active on this forum for several years now, their airdropped NEM coins for example are worth $1 million now and they do not even know that. Also I doubt they have saved their private keys because loads of people did not take this seriously at that time. I know that I had some wallets back in 2014 but I do not remember both wallet addresses and private keys.
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butka
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April 26, 2018, 08:02:04 PM
Last edit: April 26, 2018, 08:22:47 PM by butka |
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Speaking specifically about Bitcoin, I found this article (linked below) claiming that nearly 4 million bitcoins are already very likely to have been lost: According to new research from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, which are today worth around $8,500 each, are lost. Source: http://fortune.com/2017/11/25/lost-bitcoins/I don't know how much of this makes sense, to me the number is simply too high. But, who knows. Another point being made in the linked article is that people are going to be much more careful when sending bitcoins in the future, now that the value of this crypto-currency has been firmly established. |
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okala
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April 26, 2018, 08:07:58 PM |
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Definitely those lost coins are going to remain in blockchain technology for ever and no one will be able to access them except those that can find the private keys. I had about many people that have invested into bitcoin and as at now did not know they password or private keys, so they could not access there account.
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prayogi
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April 26, 2018, 08:28:05 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
I think so because I'm sure the wallet they use has security guarantees so only the users can open the wallet and of course if no one opens and sells the coin, the coin will forever be in the wallet |
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thinkpad99
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April 26, 2018, 08:31:42 PM |
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Unfortunately, there are already many assets that will never be paid, maybe someone will come up with this method, but it can be difficult and impossible
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Hanvis
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April 26, 2018, 08:43:19 PM |
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They will be lost, and the price over time for a particular coin will grow, wallets, and keys now irretrievably lost. They will just exist but access to them and no one will ever get.
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EleGiggle
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April 26, 2018, 08:49:09 PM |
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a lot of people have lost their Bitcoins in this way, so yes they will just be stuck there forever
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Angel0
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April 26, 2018, 08:49:28 PM |
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It will be lost forever untill the owner finally found their private key, the wallet will be counted as one when the counter for the holder published the holder quantity count.
The coin will be on the wallet forever, and no one can take it.
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GrandBcn
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April 26, 2018, 09:01:22 PM |
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That's why you need to have a list of all the logins and passwords. I often think about this and store all kinds of passwords in different secret places. Here, it's not just bitcoin, it's passwords from gadgets, apple, card, registration, and much more. On the one hand, it's safe to keep it in your personal memory. One, if something bad happens, I do not know what my family will do.
And the coins will be lost forever.
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vaso11
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April 26, 2018, 09:05:17 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
They just will remain on the wallet, they will be considered lost because nobody will ever pick them up and sell them |
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lizardbtc
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April 26, 2018, 09:08:01 PM |
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They will be lost, and the price over time for a particular coin will grow, wallets, and keys now irretrievably lost. They will just exist but access to them and no one will ever get.
Depends on the coin really, most of coins will raise in price, if we don't get some burst that will kill the ussless onese, and some of them have "died out" already. |
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Ranly123
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April 26, 2018, 09:09:03 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
It's a loss for those who forgot their wallets and let there coins float. It will only make the supply scars and the price will rise. So to avoid lssing our private keys, we should be serious on this business and keep it in a safe storage like offline wallets. |
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soulstreak
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April 26, 2018, 09:10:07 PM |
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These coins are essentially gone forever. They are as good as burnt. Without getting back into whatever held them, they can not be recovered.
This is why it is absolutely crucial to store your coins where you can access them safely.
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jackylion
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April 26, 2018, 09:10:21 PM |
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Yes, they will be lost forever, everyone can see them but nobody can touch them. There are still loads of people who are not active on this forum for several years now, their airdropped NEM coins for example are worth $1 million now and they do not even know that. Also I doubt they have saved their private keys because loads of people did not take this seriously at that time. I know that I had some wallets back in 2014 but I do not remember both wallet addresses and private keys.
This is really regretful when we are not careful, do not focus on private key, the value of them can be a huge asset. So this is a great lesson for us in the Crypto market. |
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ivlvov
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April 26, 2018, 09:12:53 PM |
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I think these coins will be lost forever and nobody will ever bring them out of the lost purse. I think in a few years there will be a lot of forgotten purses on which such lost coins will lie.
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serenitysilence
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April 26, 2018, 09:15:18 PM |
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The coins will remain, of course, but they will be lost for the householders if they certainly do not find the key. and coins most likely grew very much in value.
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jackolinyoko
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April 26, 2018, 09:15:29 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
Of course it will stay at the blockchain forever,because if theres no one to claim it there will be no chance to get those coins not without their private keys,which is why it is going to be remain to their current wallet,not unless someone has broked the blockchain's code,which is not possible wihtout the help of quantum computer. |
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Neymar10
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April 26, 2018, 09:21:54 PM |
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I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
Nothing will happen to them. They will be counted in the total, but they will simply lie on forgotten wallets, nobody can do anything with them. |
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totnaksquad
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April 26, 2018, 09:23:44 PM |
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It will remain in the blockchain,not unless someone has gotten your wallet's private keys that is the time that we should be worried about our coins.The transactions wont be allow anyone to proceed as you will need to open his wallet to transfer the funds if ever you are going to get your lost coins,morelikely it isnt going to get recovered.
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