What about the lost BTC?

[blckhawk]

Would it be positive for the currency or could bring some caos?

Lost coins are overall good for the market because the maximum supply is much lower and with lower supply and ever increasing demand it will eventually create this artificial scarcity that would raise the price of whatever is on demand which in this case is bitcoin, now that's the perspective of the whole market excluding the person that has lost those bitcoins. I don't even think chaos would even ensue, there's no way that you have been in this market for a long time and you still don't see how chaotic the market is? Bitcoin is a volatile asset that could just dump overnight without any reason or pump for the same thing, that's already chaos OP, no way that bitcoin could get more chaotic than that if you ask me.

[1714654900]

1714654900

[1714654900]

1714654900

[Kelward]

No, lost bitcoin are gone forever. If you want to recover any lost bitcoin, try all possible way to recover back the private key or the seed phrase

Exactly, and adding more Bitcoin in the total supply will destroy and bring chaos to it's existence. If someone can possibly gues the private keys or seed phrases of those lost Bitcoins he or she got that one in a trillion luck.

This is one of the disadvantages of decentralization, if Bitcoin had a central office or authority that someone who lost their BTC can report to, then we won't have these issues of it being lost forever. I don't think that it'll be possible to add more Bitcoin to it's total supply because it'll cause more chaos like you said than any good, it was created to have a limited supply and it should remain so. Finally if password is forgotten and seed phrase is lost, then there's no hope of recovering the BTC, I've had the painful experience and it's not something to wish on anyone. To avoid being a victim of lost Bitcoin forever, it's best to take extra care and hide your seed phrase in different secured locations.

[OgNasty]

Pretty early on I had a hard drive crash and took with it my Bitcoin wallet.  I had my private keys backed up of course but I still had some learning to do about change addresses.  I still have no idea how much BTC is sitting in that wallet in change addresses that I was unable to recover and I also am aware of an address that had at least 0.4 BTC on it that wasn't backed up at the time of the crash, so at the very least I have a dead hard drive with 0.4 BTC on it.  Maybe someday it will be enough to have someone try and recover it and maybe they'll find me a lost stash of who knows how much BTC in change addresses.  I'm certain there's some and possibly as much as 50 BTC, but I don't trust any technician enough to hand over my hard drive and compromise my keys.  Someday...

[2Pizza410000BTC]

I was reading about some cases of people who had many BTC at a time when it has low or no value at all, and didn't care about it, so they eventually lost their security phrases, or hard wallets and now it is lost probably forever.

I've read that the amount that is considered lost can be up to 5 million BTC. That is about 1/4 of the total amount available.

Knowing that BTC has a limit, and we're getting there soon, isn't it possible to have some compensation for those lost BTC?

Something like adding more BTC in an equivalent amount for those lost BTC, or something similar.

Would it be positive for the currency or could bring some caos?

When the price of Bitcoin was very low and in other words when it was almost worthless, those who didn't care about the Bitcoin wallet lost the seed phrase of the wallet without any recovery, so assume that those of you who lost it will never recover from that wallet. Can't and if it can be recovered then it will instantly become a billionaire/ trillionaire. Moreover, if more bitcoins are added to the total bitcoin supply, it will be declared as a bitcoin scam. They will not receive any compensation for losing BTC.

[Z_MBFM]

I was reading about some cases of people who had many BTC at a time when it has low or no value at all, and didn't care about it, so they eventually lost their security phrases, or hard wallets and now it is lost probably forever.

I've read that the amount that is considered lost can be up to 5 million BTC. That is about 1/4 of the total amount available.

Knowing that BTC has a limit, and we're getting there soon, isn't it possible to have some compensation for those lost BTC?

Something like adding more BTC in an equivalent amount for those lost BTC, or something similar.

Would it be positive for the currency or could bring some caos?

When the price of Bitcoin was very low and in other words when it was almost worthless, those who didn't care about the Bitcoin wallet lost the seed phrase of the wallet without any recovery, so assume that those of you who lost it will never recover from that wallet. Can't and if it can be recovered then it will instantly become a billionaire/ trillionaire. Moreover, if more bitcoins are added to the total bitcoin supply, it will be declared as a bitcoin scam. They will not receive any compensation for losing BTC.

Humans are very emotional and human emotions are always most focused on the present which is why you will focus on what is most profitable for you in the present. In the same way people mined bitcoins or bought bitcoins for fun in 2009-10 but they couldn't have predicted that it would be so valuable in the future. And that's why they didn't take care of their wallet keys and they lost their bitcoins. And those who don't have a wallet have no chance to access the bitcoins.  Those bitcoins are now Velunes. they can only be viewed but not used or enjoyed