Topic: Dead Bitcoins (Read 1907 times)
No matter how you try, bitcoin will always rise from the sahes
My buddy who turned me on to bitcoins lost over 200 because he sold an old outdated computer at a garage sale for $40 the guy bought it for parts he Assumed. A year later he remembered he had them on there once he found out btc hit $9 - Now he really hates himself.
My point is something like this has happened to so many people, I think 10% minimum went poof with lost wallets and old computers being trashed.
My point is something like this has happened to so many people, I think 10% minimum went poof with lost wallets and old computers being trashed.
There was a thread here counting all the known lost bitcoins, maybe somebody could find it and post a link? It has been a while since I looked at that thread, but if I recall correctly they were up into the tens of thousands of lost bitcoins.
Dead Bitcoins means higher price if the demand continues to grow, simple as that. And since bitcoins are so divisible it shouldn't suppose a big problem, of course I wonder what will happen by the time all Bitcoins are mined, probably lot of people will have lost their Bitcoins by them.
I still hope to live long because bitcoin for 3 years of my life of bitcoin 
jikalah it really does happen at least 5-10 years in the future until I get a high paid job and already established
jikalah it really does happen at least 5-10 years in the future until I get a high paid job and already established
I have also thought about this and it would be curious to do a compilation of known lost wallets
i think so too, many to them lost
I see dead bitcoins?
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.
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.
This is a similar more in depth thread about lost bitcoins!
https://bitcointalksearch.org/topic/lost-bitcoins-109117
BTC The Future!
https://bitcointalksearch.org/topic/lost-bitcoins-109117
BTC The Future!
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.
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.
This thread made a ham fisted effort to tally up lost coins.
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.
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.
there is a slightly chance to recover those bitcoin/their private keys , maybe with a hard fork?
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.
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..
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.
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.
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