Did you know that 25% of all Bitcoins are lost? - page 2.

bjmpoker001

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Quote from: Bytem3 on July 13, 2018, 03:42:31 PM

According to Jameson Lopp, a former BitGo and current CasaHODL engineer over 4 million Bitcoins (over 25% of current circulation) are lost.

Source: https://coincodex.com/article/2018/jameson-lopp-estimates-4-million-bitcoin-are-lost-forever/

There are many bitcoin lost because many peoples forgot or lost their wallet information indeed, but i don't know if it is 4 mil or not.
But this is the cause of bitcoin value get skyrocketed. If the circulating supply low, then the price will increased much if the demands high.

zenrol28

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It's not lost, rather, it's in a place that we can only see them, but can't own it like in a museum. Just think of those bitcoins are being held by someone who don't want to sell it off. These coins were lost probably on bitcoin's early days, when it's price is just like to an in-game currency. Losing bitcoins on early times is tolerable, but today, it's unacceptable because of it's value.

KS03

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It would be great if that news could be verified somehow. Its a very interesting statistic none the less. I have no idea if 25% sounds about right. I cannot imagine how many people burn their own coins on a daily basis.

dark1234

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Quote from: pushups44 on July 13, 2018, 07:41:19 PM

Of course a large percentage is permanently lost, because once the private key is lost the wallet is no good. Additionally, during the scaling issues it was not worth sending spare change to another wallet, so it was often discarded.

I just heard this news about the loss of bitcoin but the opinion pushups44 very reasonable because the loss is in because the wallet is locked that can not be solved and the throw it away wallet that is not in can be used again and bitcoin participate in it because very little and not worth
so by itself the bitcoin disappears

pushups44

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Of course a large percentage is permanently lost, because once the private key is lost the wallet is no good. Additionally, during the scaling issues it was not worth sending spare change to another wallet, so it was often discarded.

Gypat

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Just got to know own though but wondering what might be the cause if indeed this information is true.
Perhaps people who had Btc died without passing on their private keys. Well, this doesn't sound good.

Shamie1002

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I do believe that there are lost coins and I am aware that they are not retrievable. But I doubt that it is abiut 25% of the total bitcoins.
Maybe less but not more than 6 million.
Lost coins may be a good thing. When there are lost coins, Values is not possible to end up in ZERO value but hell yeah it is a person's worst nightmare especially when he o she lost their savings in investing in cryptos right?

IamKnowledge

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True talk ooo. I have been a victim of this inconvenience. When i first join the bitcoin family, i did not really understand its operations. i created my first wallet, bought some coins and invested a lot of time filling airdrops too which earned me some coins in addition to the ones i bought. I was careless and therefore I lost all my investments and hard-earned tokens in addition. I was so dissappointed and had start to everything afresh. I believe other people have had several experiences too which may include theft, fraud etc. Some bitcoins are also lost when their holder die. It is not surprising to hear that about 25 percent of bitcoins are lost.

Harrow30

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Quote from: Bytem3 on July 13, 2018, 03:42:31 PM

According to Jameson Lopp, a former BitGo and current CasaHODL engineer over 4 million Bitcoins (over 25% of current circulation) are lost.

Source: https://coincodex.com/article/2018/jameson-lopp-estimates-4-million-bitcoin-are-lost-forever/

If bitcoin is really digital and we are certain that the bitcoin has been list indeed, I feel it can be retrieved since lost means it now doesn't belong to anyone. It should be mined and readded to the volume.

chrismartin

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It has a big impact on bitcoin mate if this thing is true. The circulating supply of bitcoin will decrease and also those total supply if it. The question their is, it is lost? Or it is hold by other people for their own sake.

leostrong.mo

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This is a very normal thing, there are many people who lost the BTC because they forgot the wallet key or lost the hardware wallet!
There are still some people who have lost some BTC accidents!
Any cryptocurrency is the same, there are always some cryptocurrencies lost, and can never be used in the blockchain!

r32godzilla

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I don't know how far it's exactly true.But such a high volume of loss of bitcoins would help boost the bitcoin price since it's supply has lessened while not its demand.

Kez1817

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Quote from: Bytem3 on July 13, 2018, 03:42:31 PM

According to Jameson Lopp, a former BitGo and current CasaHODL engineer over 4 million Bitcoins (over 25% of current circulation) are lost.

Source: https://coincodex.com/article/2018/jameson-lopp-estimates-4-million-bitcoin-are-lost-forever/

I think it is difficult to believe this. How can you calculate the amount of lost bitcoin which a lot of the people are the owner of it? I those bitcoin are just hold by the people and hide it for a long period of time.

zolfa

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I do not understand why this can happen? because I think that bitcoin circulation in every market is 4 million bitcoin remaining, then predicted will be exhausted in 2024. but after hearing 4 million bitcoin lost from the market, I feel pessimistic.

if 4 million bitcoins are lost, bitcoin will not have a chance to have a high value. maybe bitcoin will end here.

jossiel

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4 million bitcoins lost and 2 million were hacked that's a lot of bitcoin that are going gone in the market except those stolen ones.

How can it be that he said that these lost bitcoins cannot be part of the supply if there are only limited supply of bitcoin. Lost or not, it's still part of the supply, circulating or not.

Total of 17 million bitcoins on circulation less this 4 million, 13 million bitcoins in the market.

Quote from: onaiwusun on July 13, 2018, 04:27:35 PM

That's sad, people never really took bitcoin serious and were careless with their keys. I personally have some small quantity (Less than 1 btc) that I cannot access. I know the wallet but no access

We can't blame them for being careless during the early days if I'm on their shoe probably I'll commit the same mistake.

bitchubitchu

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I don't know that information,thanks for sharing here.Hope that it will recuperate them so that more bit coins will circulates.

IamKnowledge

newbie

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It is possible! This is because people die day in and out. When the die, what happens to their bitcoin? If the owners of bitcoin die without leaving any will containing their bitcoin wallet and private key, then the coin will be lost eternally. It is high time we made our next of kins aware of our bitcoin wallet details, death is inevitable.

gantez

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Quote from: gantez on July 13, 2018, 05:24:31 PM

Quote from: madjpm on July 13, 2018, 04:11:45 PM

Same as burnt coin... It's not really a prolem, lots of people lost there privates keys.
Got a bitcoin wallet in 2011 but never retrived my .dat file like lot of people here

This is just must of the way that bitcoin is lost. And I do believe that much of it was lost in the past because lately, people are very much knowledgeable, wiser and serious with their coin.

Quote from: MVT_Freedom on July 13, 2018, 04:10:37 PM

Very interesting article, I'm feeling a little bit richer now Grin

Why do you feel a little richer? You must be careful with your coin and have to labour because rich don't come without some work and determination.

gantez

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Quote from: madjpm on July 13, 2018, 04:11:45 PM

Same as burnt coin... It's not really a prolem, lots of people lost there privates keys.
Got a bitcoin wallet in 2011 but never retrived my .dat file like lot of people here

This is just must of the way that bitcoin is lost. And I do believe that much of it was lost in the past because lately, people are very much knowledgeable, wiser and serious with their coin.

dothebeats

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This is already common knowledge. though the numbers are just guesstimate: no one really knows how much bitcoins are lost since they could easily be just cold storages from different people. Nonetheless, in theory this should make all the existing or circulating bitcoins valuable due to the law of supply and demand so this is all good. However, if there aren't really any demand present, no matter how much lost bitcoins are there, it simply wouldn't boost the price up.

Topic: Did you know that 25% of all Bitcoins are lost? - page 2. (Read 892 times)