Dead Bitcoins

[TheAccountant]

I'm curious about how many Bitcoins are effectively dead (i.e., lost private keys, owner dies, etc.).  I imagine it is more than 10% of all coins.  It will happen less and less, but with so many people who mined when they were worth next to nothing, I would think most of the early Bitcoins died.  What do you think?

[Soccruo]

10% is too high, but if you consider Satoshi's btc dead coins I agree with you.

[CharHill]

I'm curious about how many Bitcoins are effectively dead (i.e., lost private keys, owner dies, etc.).  I imagine it is more than 10% of all coins.  It will happen less and less, but with so many people who mined when they were worth next to nothing, I would think most of the early Bitcoins died.  What do you think?

3-8% i think is lost, 10% so much. Most lost was on mtgox, by freezing accounts. Look on the fiats, people always lost that, more than btc. So you can to mind about that.

[fryarminer]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

[Mowcore]

I think there's a thread around here somewhere that should give you a close enough answer to your question.

[Rigon]

if block chain can provide an active graph and tell us how many bitcoins are being ciruculated and what has been dead for over a year might be cool to see.  Though Im sure it wont be an actual analysis but could help markets improve also with that kind of data.

[RodeoX]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

[allthingsluxury]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

Like, but not the same. These can, and likely will, renter circulation given the right price.

[RodeoX]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

Like, but not the same. These can, and likely will, renter circulation given the right price.

Certainly true. I think our current crash is shaking out a lot of these coins now. When there is no one left but perma-hoarders, I believe a climb is in order.

[fryarminer]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

Like, but not the same. These can, and likely will, renter circulation given the right price.

Yes, but not really. Whether there be 21 million or 18 million really doesn't matter. What matters is that we know that bitcoins are rare, how many bitcoins are available for purchase and for how much those who own bitcoin are willing to sell them for. That is what affects the price when it comes down to it.

Nobody cares how many ounces of gold there are in the world..

[TheAccountant]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

Like, but not the same. These can, and likely will, renter circulation given the right price.

Yes, but not really. Whether there be 21 million or 18 million really doesn't matter. What matters is that we know that bitcoins are rare, how many bitcoins are available for purchase and for how much those who own bitcoin are willing to sell them for. That is what affects the price when it comes down to it.

Nobody cares how many ounces of gold there are in the world..

I can't say I disagree that scarcity is the primary value proposition, but I'd say the dead Bitcoins do matter as they won't be turning up in a crash. 

I believe the current "crash" has a lot to do with companies like Dell and Overstock accepting bitcoins.  Having new opportunities to spend bitcoins would cause previous hoarders to spend.  Dell and Overstock don't hold the coins, they cash them out for another quick sale, which puts more coins on the sale side than the buy side.  In the future, as more people are regularly transacting in Bitcoin, this downward pressure should equalize.  But for now, there aren't enough people buying bitcoins. 

[Ayers]

there is a slightly chance to recover those bitcoin/their private keys , maybe with a hard fork?

[TheAccountant]

there is a slightly chance to recover those bitcoin/their private keys , maybe with a hard fork?

There is no reason to recover them.  Just a curiosity on part of how many of those are gone.

[Mowcore]

Dell and Overstock don't hold the coins, they cash them out for another quick sale, which puts more coins on the sale side than the buy side. 

Overstock are at least keeping a percentage of bitcoin sales in bitcoin. I know what ya saying though.

[galbros]

This is a key question.  I would not be surprised if it was over a million coins (10%) in addition to Satoshi's.  However, I seriously doubt coins are being lost any more.

This thread made a ham fisted effort to tally up lost coins.

[puwaha]

I'd say this is impossible to know.  It's kind of like asking how many people have buried coffee cans full of fiat-cash in their backyard but forgot where they put it.

[MÖGUL™]

This is a similar more in depth thread about lost bitcoins!

https://bitcointalk.org/index.php?topic=109117.0

BTC The Future!

[Cryptopher]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

More specifically the coins that are being traded on exchanges. I'm interested in knowing what the combined buy vs sell is across all exchanges.

[beetcoin]

A more accurate question would be how many bitcoins are in circulation. Because that is what really affects the price, isn't it?

That's a good point. Coins that are horded are like lost coins, in that they are unavailable for trade.

they are still a factor though, because there is still potential in those coins going into circulation.

[marcus_of_augustus]

I see dead bitcoins?