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Author Topic: Lost Bitcoins  (Read 2544 times)
btc_artist
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February 14, 2012, 06:49:23 PM
 #21

Lost coins are one of the reasons I feel like the block rewards should have tapered off gradually, and settled down to an eventual minimum amount (Even if it was just 1 coin).

The more bitcoins in circulation, the lower the percentage of inflation the block reward represents.  However, the larger the number of coins in circulation, the more likely it is for instances of lost coins to appear.  Eventually, those two numbers would balance out and you'd have an approximate number of coins continuously in circulation.
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November 18, 2017, 05:01:54 PM
 #22

Such a pain for the people lost and such a fun for the gainers/hackers/scammers insane !!

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November 18, 2017, 05:29:57 PM
 #23

Short answer: Yes.

They are simply gone.
One day all those lost and forgotten coins will become own of those wallets and exchangers where a person held it, well in a lot of cases it is going to be really like that.

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November 18, 2017, 05:37:59 PM
 #24

Yes, in my understanding it makes the remaining bitcoin owners slightly richer. Bitcoin supply is limited and if coins are lost the supply becomes even more lesser and precious. But, too much scarcity is not good either Smiley

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November 18, 2017, 05:45:56 PM
 #25

Such a great loss for the people who has losted their own coins as now the price is very high

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November 18, 2017, 05:59:53 PM
 #26

Yeah they are gone forever if that happens. And over time the 21 million bitcoin will be reduced and help increase the value of bitcoin.

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November 18, 2017, 06:02:15 PM
 #27

Lost coins are one of the reasons I feel like the block rewards should have tapered off gradually, and settled down to an eventual minimum amount (Even if it was just 1 coin).

The more bitcoins in circulation, the lower the percentage of inflation the block reward represents.  However, the larger the number of coins in circulation, the more likely it is for instances of lost coins to appear.  Eventually, those two numbers would balance out and you'd have an approximate number of coins continuously in circulation.

Absolutely,in my case when I meant lost coins they were stolen,so they are still existing but in other cases when lost coins they might have lost the wallet key or so / or an anti-virus wipe etc.,So bottom line the second category of lost coins add meaning .And thankyou for the sensible response.

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November 18, 2017, 06:04:07 PM
 #28

Surely a part of the money is lost permanently, but it will not affect the value of the money remaining on the market. Owners must take into account where it is stored and to ensure that no loss occurs.  Smiley
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November 18, 2017, 06:07:15 PM
 #29

This has been a long back thread. Look at the day, it seems to be more than five years. If the user had bought some bitcoins now he could have been a millionaire. When it comes to losing of bitcoin, most of the time it happens in the form of stealing. Very few forgets the private key and losses bitcoin.

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November 18, 2017, 06:11:26 PM
 #30

What happens to all those Bitcoins that are parked in offline / paper wallets - and get lost (-> spouse throws away paper with strange symbols on it, hard drive crash, etc.) ?

Does that mean Bitcoins get more and more precious over time?

Lost Bitcoins can not be retrieved. They will be forever lost. This, according to basic economical theories, will lead Bitcoin to increase its value over time (a.k.a. deflation).

As a side note, I'd say if your spouse throw away a paper wallet, you didn't find the right girl for sure...  Grin

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November 18, 2017, 07:23:40 PM
 #31

What happens to all those Bitcoins that are parked in offline / paper wallets - and get lost (-> spouse throws away paper with strange symbols on it, hard drive crash, etc.) ?

Does that mean Bitcoins get more and more precious over time?

They have nothing to do if they are confined to a home that seems to be hiding out of social life as well as online can not be done. At what time do we have modernity? everyone uses internet connection to communicate with their fellow Speaking of "Communicate"? Talking to other people. In our day now it's the trend that even a person can talk to you. Similarly, new service providers are offering new jobs. You just have to go online and then you will earn. Like Bitcoin you can work online to communicate with others with the help of the internet. I repeat that you can not get it money if you're just in the house.

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November 18, 2017, 07:37:05 PM
 #32

The more bitcoins that are lost, the more rare it becomes i think

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November 18, 2017, 07:41:41 PM
 #33

What happens to all those Bitcoins that are parked in offline / paper wallets - and get lost (-> spouse throws away paper with strange symbols on it, hard drive crash, etc.) ?

Does that mean Bitcoins get more and more precious over time?

That can not happen, the communication will be offline for you to earn bitcoin. And then if ever it happens that the process of working with you is slower. It's online because everything you can do. You have a good idea and you know who you are. Unlike offline you are working but you really do not know whether they really are or scammers. Bitcoin will slow down and slow down if ever this happens. It will gradually fall.

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November 18, 2017, 07:51:37 PM
 #34

What happens to all those Bitcoins that are parked in offline / paper wallets - and get lost (-> spouse throws away paper with strange symbols on it, hard drive crash, etc.) ?

Does that mean Bitcoins get more and more precious over time?

Yeah, they'll be gone like every bitcoin is gone in whitchs case the private key was lost e.g. damaged hard disc.
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November 30, 2017, 06:50:38 PM
 #35

he loss of a digital currency can be very painful for its owner, it at the same time adds a little value to the rest of the bitons because of the reduction in supply. In addition, today's users are likely to process their bitcoins with greater accuracy, so that the probability of losses in the future is lower. However, this process is irreversible, and therefore the number of lost bitcoins will only grow

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November 30, 2017, 08:47:40 PM
 #36

he loss of a digital currency can be very painful for its owner, it at the same time adds a little value to the rest of the bitons because of the reduction in supply. In addition, today's users are likely to process their bitcoins with greater accuracy, so that the probability of losses in the future is lower. However, this process is irreversible, and therefore the number of lost bitcoins will only grow

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