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Author Topic: Lost Bitcoins  (Read 308 times)
Alisha-k
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August 22, 2022, 04:34:07 AM
 #21

I am convinced that I have discovered a way for people who sent bitcoins to nonexistent addresses to have those bitcoins returned to them.
Now Bitcoin is decentralised who will likely do the returning of those Bitcoin sent to nonexistent addresses? Remember no one two Bitcoin owner has the same private key, no one has control of a wallet where the key is lost. If a coin is sent to a nonexistent wallet address with no private key to aid in sending out the UXTO then that coin remain lost forever

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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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August 22, 2022, 06:05:09 PM
 #22

The responses I received (some of them) cause me to believe that the responders don't understand the btc blockchain as much as they think they do and or they didn't understand what I suggested.
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I think you misunderstand the criticism you get here. The reason is because you don't realize how drastically your idea affects the core principles of the Bitcoin system. You think you understand enough about blockchain and bitcoin transactions to give these ideas, but trust me, you are very far from the truth.

What I'm trying to say is that you might think your idea would work, but the more you read and learn about Bitcoin network, the more you'll realize how flawed your approach is. The criticism you get comes from making broad assumptions and thinking you know enough about something to make a radical change to it. Please don't take anything I've said here personally. I'm sure that you're smart and do have some bright ideas about Bitcoin and about blockchain technology in general. But if you really want to understand these ideas, then you should seek out the opinion of other experts who are more knowledgeable about both cryptocurrency and blockchain technology.

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August 22, 2022, 08:45:37 PM
 #23

...I am convinced that the same can be done in the case of lost bitcoins...

Everything is much simpler in cryptocurrency than in the real world. If you have a private key, then you will control your coins, if you do not have a private key, then no insurance company will help you. Although some blockchains provide for the possibility of returning coins in circulation that have not been used for a long time, but this does not apply to bitcoin.

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Marvelman
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August 24, 2022, 08:39:10 PM
Merited by NeuroticFish (2), pooya87 (2)
 #24

Even if you use a centralized service like an exchange, it is still impossible to link a bitcoin address with any other information unless you voluntarily leave such information on that service.
All centralized services want minimum email address and almost all centralized exchanges have some sort of KYC and have a link between your coins in their service and the information you give them.

I'm not sure that's true. There are numerous centralized services that do not require any personal data from the user. For example, crypto mixers, instant exchanges (swaps), and even some crypto casinos. But that's not the point. The point is that there is no method or procedure that can guarantee tracing every Bitcoin address or transaction back to the email address or IP address of the owner, contrary to what was apparently claimed by the OP.

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