Understanding Bitcoin how Lost Coins Benefit Others.....

[Donk1]

​Greetings folks  so yeah I am very sure we all know about how Bitcoin is often called digital gold and unlike traditional banks where by if you lose your ATM card you will go to the bank for help well Bitcoin isn't like that. If by mistake a person loses access to their money it's easy to say it would be gone forever.​But then that's not the shocking part of it all after doing some research I figured out that ,Yeah for sure while the person that lost his money would eventually be sad or even frustrated,  in the other way round it becomes a benefit to every other  Bitcoin holders. Here is why .

1) it's said that's there will only be 21 million coins that will ever be made nothing less and nothing more

2 )take for example a person loses let me say 10 Bitcoins well The coins wouldn't go to anyone they would simply disappear from the market entirely...

3 )even when there are fewer coins left after the lost coins unfortunately as long as people continue to demand for it the rest coins would eventually become more valuable.....

​more over perhaps if maybe more people keep losing their keys  the number of Bitcoin that is available to buy and sell will continue to reduce. With this like I said earlier the value of  available coins will become more stronger.​Check out this link: How 20% of Bitcoin is lost and can never be recovered.
https://www.investopedia.com/news/20-all-btc-lost-unrecoverable-study-shows/
​So yeah, while as people keep losing their keys indeed it would benefit other holders, but still, this is another way of saying Take good care of your seed phrase so you wouldn't fall victim of lost coins. That's just it folks.....

[ColdLava40]

Like satoshi said, every lost coins makes the available ones more valuable. I talked about same thing on one of my post a week ago. Many people suddenly feel like if these coins are lost then it's gone completely and no longer acts on the network..yes it's lost and no longer in circulation, but it still plays some roles and that's by driving scarcity even more.

The coins becomes domant but they still play an important role in bitcoin, making other remaining available coins in supply more valuable..

[BIT-BENDER]

​Greetings folks  so yeah I am very sure we all know about how Bitcoin is often called digital gold and unlike traditional banks where by if you lose your ATM card you will go to the bank for help well Bitcoin isn't like that. If by mistake a person loses access to their money it's easy to say it would be gone forever.​But then that's not the shocking part of it all after doing some research I figured out that ,Yeah for sure while the person that lost his money would eventually be sad or even frustrated,  in the other way round it becomes a benefit to every other  Bitcoin holders. Here is why .

1) it's said that's there will only be 21 million coins that will ever be made nothing less and nothing more

2 )take for example a person loses let me say 10 Bitcoins well The coins wouldn't go to anyone they would simply disappear from the market entirely...

3 )even when there are fewer coins left after the lost coins unfortunately as long as people continue to demand for it the rest coins would eventually become more valuable.....

​more over perhaps if maybe more people keep losing their keys  the number of Bitcoin that is available to buy and sell will continue to reduce. With this like I said earlier the value of  available coins will become more stronger.​Check out this link: How 20% of Bitcoin is lost and can never be recovered.
https://www.investopedia.com/news/20-all-btc-lost-unrecoverable-study-shows/
​So yeah, while as people keep losing their keys indeed it would benefit other holders, but still, this is another way of saying Take good care of your seed phrase so you wouldn't fall victim of lost coins. That's just it folks.....

People losing Bitcoin may be good for scarcity with may push the price upwards but you must understand investment value is not what Bitcoin is completely about.
A real Bitcoin enthusiast should be concerned about the future of Bitcoin and lost Bitcoin will not do the future of Bitcoin a favor, we are looking at having a future where Bitcoin will be widely used around the world for actually purposes and not just to be kept in wallets waiting for the bull run.
I don't want to see Bitcoin being lost because of my selfish investment gains because in the long run it will not favor anyone is there be a drastic loss of Bitcoin.

[Realwhot]

Even if it is true that losing your coins will benefit the whole network,it is not something anybody wishes to happen to them. Because of Bitcoin's limit in supply what you are saying is true but it depends on how big the coins are. Bitcoin has a very big market cap now and even if you lose 2 Bitcoins it will almost like nothing even happened.
What you are saying was very correct when Bitcoin was still very small and it's value was not big. That time because the Market cap is small any small loss will be obvious in Bitcoin price.

[hmbdofficial]

2 )take for example a person loses let me say 10 Bitcoins well The coins wouldn't go to anyone they would simply disappear from the market entirely...

They will still be in the blockchain as no one could be able to to access they will just be output that can’t create  any input but those running the nodes will still be able to download the block of those transactions  for sure, except we don’t know what’s going to happen in the future with the quantum computing possibly breaking through the private key but for now,  there is no such thing so your statements are valid.

[Futurexxx]

People losing Bitcoin may be good for scarcity with may push the price upwards but you must understand investment value is not what Bitcoin is completely about.
A real Bitcoin enthusiast should be concerned about the future of Bitcoin and lost Bitcoin will not do the future of Bitcoin a favor, we are looking at having a future where Bitcoin will be widely used around the world for actually purposes and not just to be kept in wallets waiting for the bull run.
I don't want to see Bitcoin being lost because of my selfish investment gains because in the long run it will not favor anyone is there be a drastic loss of Bitcoin.

The actual purpose of Bitcoin in our society is for it to be used as a medium of exchange, as a legal tender, to buy and sell, because it's money, but investors and individuals started seeing investment potential in it and opportunities to take advantage of due to it volatility.
And since it's an asset that appreciates in value overtime, investors start holding it more than using it for the actual purpose of it invention.

I honestly wouldn't blame anyone holding his bitcoin because life is about interest, it's only what i see beneficial to me I will do, not by selling it or using it to buy something that is not as valuable or wouldn't give me real value like Bitcoin would.

[Itz-prisigold]

This topic really highlights one of the most misunderstood parts about Bitcoin: "responsibility,"  this really shows how Bitcoin separates itself from traditional finance systems. The most interesting part for me is that, losing coins does not only mess with the price, but it’s also a matter of responsibility. See in the Bitcoin system, nobody can step in to fix your mistake. That’s the consequence of having absolute power.

In a very strange way,  lost coins truly benefit those who take self custody seriously. You see those people that understand how to secure their private keys and think long term are rewarded. Those who are careless are punished and there is no safety net. In traditional finance there is always someone who can reverse the mistake.

Lost coins definitely is not something that we should celebrate about but they do an excellent job reminding us what true ownership means. In the Bitcoin system you have the freedom to do what you want,  but also have to have the discipline to not mess it up. That’s probably the most important lesson to learn when you are starting to invest in it.

[Doan9269]

We don't have to worry ourselves much on bitcoin lost coins, because we all are part of the beneficiaries if they are lost from someone and we are holding ours, what we should be able to prevent is the occurrence that we also constitute to the number not those who will make the silly mistake of losing their coins for any reason, lost coinsnto me does not only comprise of those that compromised their address or those that sent to the wrong network, of we are holding not trading in lost, we are also part of this, because it is expected that we make profits and not lost with bitcoin.