Does loss of BTC affects total amount of BTC in total supply.

[RealMalatesta]

I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?

The supply stands still because they are still there, and maybe one day someone will figure out a way to hack into all these dead and lost coins in the distant future when tech is higher, because that should be done but at the moment it does impact the price.

Well, since they can't be touched, they can't be sold neither, and since they can't be sold there are still buyers and coins are still bought and yet those coins are forever gone and can't be sold. That's why the price goes up a bit, or at least it benefits the price going up in the future whenever something like this happens. Plenty of people are worried that something else would happen but the reality is that the price is the only thing that changes.

[1715505548]

1715505548

[1715505548]

1715505548

[1715505548]

1715505548

[majeed]

Irrespective of rank I believe am still learning in gradual steps about bitcoin and therefore have this question to ask, it would be of good consequence for me if am well enlightened on this particular subject about bitcoin. So just in case,  someone I might want to talk to about bitcoin for the very first time happens to ask me I can comfortably address it too.

Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?

Bitcoin is some next-level technology that's been turning heads since the jump. Listen, losing your Bitcoin wallet doesn't mean there'll be fewer BTC in circulation. The total supply of Bitcoins stays at 21 million, and as people lose their wallets, the amount of lost BTC goes up, but it doesn't change the total supply. Losing your wallet is a regular issue in the cryptocurrency world, but don't worry, there are ways to avoid it. Just keep your seed phrase on the down-low, and don't go telling anyone. Your seed phrase is the golden ticket to your wallet, and if someone gets their hands on it, they can quickly swipe your Bitcoins.

[serjent05]

Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?

Let us say there are two kinds of supply created by Bitcoin, the Total supply (total coins that can be mined) and the total active circulating supply.  In Total supply, lost BTC almost has no effect because it is still part of the total supply while in active circulating supply the answer to this question is obvious.  Lost Bitcoin will affect the active circulating supply of Bitcoin.  Although idle Bitcoin is still part of the total supply of Bitcoin, the one that has an effect on the market is the active supply.

Obviously, in terms of market trade, less supply with the same amount of demand will result in a price uptrend and vice versa.  With lost BTC it helps make active BTC supply rarer and more scarce in the market.

[Lanatsa]

Irrespective of rank I believe am still learning in gradual steps about bitcoin and therefore have this question to ask, it would be of good consequence for me if am well enlightened on this particular subject about bitcoin. So just in case,  someone I might want to talk to about bitcoin for the very first time happens to ask me I can comfortably address it too.

Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?

It wouldnt be able to affect the overall supply which is 21M which it would really be that fixed no matter how many coins arent in circulation or totally lost in void. Usually prices or value do goes down whenever there's a huge sell on an exchange which we know that it would really be having that harmoniuous effect on every exchange that we do have in the market which would really be dictating out the value.
Therefore, we shouldnt really be having that kind of belief that if ever coins are lost because of lost keys or being hacked or scammed then overall supply
would really be just the same and its fixed.Just like the rest been saying that circulating supply would be affected though.