BITCOIN TREASURE’s - page 2. | Bitcointalksearch.org

coin-investor

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

If someone can do that then he can posses Bitcoin and don't care to return to the real owner, this what makes this technology looks great, because you alone own your coin and no one can can interfere as long as you hold your private key.

Indrawan77

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It's an interesting idea but I against this idea, if there is some software or technology that able to retrieve coins from the forgotten password, its mean it also can retrieve coins from the active wallet, it will makes bitcoin wallet sound so vulnerable, it can caused huge problems, because there is no way to determine whether the coin is in forgotten wallet or the owner left the coin for long tern

thorvald

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That's actually a good thing that Bitcoin will slowly lose supply forever. It increases the value of the cirulating coins. And to recover anonymous cryptos is very unlikely

Warren Buffert

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

So how would you prove that you were the original owner of those bitcoins? And how would you decide what coins are lost and not?

KeijiN

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I have heard that it can probably happen, and bitcoin value will increase slightly due to it, but there is still place for more decimals.

makuhpal

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It wont happen.because surely most of those lost bitcoins are going to ruin the market,what if you got 100k pieces of bitcoin which was lost in your old harddrive and you are able to recover it,are you going to be a trillionaire instantly? i dont think so ,developers wont break the code as it is created to be just like it is now.

EditorK

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That's an interesting idea.
If all of the bitcoin is extracted, its value will be unimaginable in the future. Because the price is determined by supply and demand.

btc_angela

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

Yeah, so its lost forever.

Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

There's no way to recover even if you used quantum pc's to break the privatekey. That's how bitcoin is designed though. Consider that bitcoin is lost forever that's why we always preach here to protect and keep your private key safe so that you won't lose it. Note: I myself lost 7 bitcoins myself because I don't know where I put my password, I earned it way back 2011. But I have move on already.

Sudarmoon

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I really agree with your phrase, and it is very necessary to avoid the bitcoin ease available in this world, because if it is on leave it is very dangerous for bitcoin lovers.

CryptoCoin8487

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Quote from: mariayaz on April 25, 2018, 02:15:36 AM

Its much needed as we invest in bitcoin and alt coins and once they are lost you cant get it back, similarly there are very high risks to lose coins on exchanges too and they dont refund it back

I think he was pointing that if the more and more bitcoins lost everyday, months, or years the total supply of bitcoins will decrease too until no more bitcoins created. If that happens someday in the future maybe we need to find a way to recover some bitcoins who is already lost and stack in some unknown wallet.

mariayaz

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Its much needed as we invest in bitcoin and alt coins and once they are lost you cant get it back, similarly there are very high risks to lose coins on exchanges too and they dont refund it back

camito

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

Yes, recovering bitcoins is impossible. It all depends to the private key in order to have access to bitcoin wallets and if it happens that your private key got lost/deleted, we'll be saying goodbye to our precious bitcoins. It would be very stressful and depressing to owners if they lost hundreds, thousands or even millions of bitcoins. But I think, this features of bitcoin wallet is somehow helpful in some ways. If it happens that you lost your bitcoins, you can assure that no one can break through your wallet in order to have access to this and benefit from your precious bitcoins. Theft will be difficult to happen, but the sad part is that, you will lose your bitcoins forever. This is the reason why we should take good care of our private keys and secure in a safe place. That is the only thing we can do in order to keep our precious safe.

rumexx

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

I think you have a point because Bitcoin has a fixed amount in circulation, is about 20,000,000 in all and about 15,000,000 in circulation and if wallets keep losing bitcoin it is holding because of loss of password and username which has no recovering remedy for now will eventually reduce the amount of bitcoin whether in circulation or the total quantity available. So some thing should be done about recovering lost log in details.

NeuroticFish

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

First of all there's no way to differentiate the accessible wallets that are not accessed by the owner for very long time from the wallets that are not accessible, this would not be feasible from start.
There's no difference from "breaking" a wallet that's accessible and has an owner from the case the wallet is not accessible.
So all in all, this means theft, no matter how you take it.

Now, Bitcoin is safe against theft by design. A transaction can be made only if it's signed with the private key of the owner wallet. Period.
If the developers would do what you want, it would mean to alter the strength of Bitcoin and all the wallets, including yours or mine, will become vulnerable.
Do you really want that??

bitperson

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Quote from: Sweetyeds84 on April 25, 2018, 01:27:38 AM

As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

That's not needed. The fact that some bitcoins are lost decreases supply, thereby increasing the value of non-lost bitcoins. Bitcoin is highly divisible, so it's unlikely that its supply will decrease to the point where bitcoins would no longer be useful.

Also, it would be very difficult to determine which specific bitcoin UTXOs should be considered lost. If you obtained bitcoins several years ago and are holding them, would you like some fork trying to take them away from you?

Sweetyeds84

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As we know if you lose or forgot or if you wont remember you pasword and some kind of security features in bitcoin wallet you cant open your bitcoin wallet and consider that bitcoin is lost forever.

I was hoping that someday in the future bitcoin developers can find a way to recover this lost bitcoins just like old treasure like gold and old coins today. I was hoping that someone can find a way take this treasure bitcoins in there wallet and put back to market again someday. Because if no one can take that bitcoin treasure and put it back to the market bitcoin cerculation suppy will slowly lose forever.

Topic: BITCOIN TREASURE’s - page 2. (Read 332 times)