[DISCUSSION] What will happen to the "lost" bitcoins? - page 3.

SatoPrincess

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Quote from: ? on October 29, 2024, 09:28:42 AM

What could happen to these lost bitcoins? Will they continue to be lost in "limbo" Huh

This is a reoccurring topic in the forum. I’m pretty sure we discussed “what happens to lost bitcoins” a couple of times this year. To answer your question OP, I have to refer to this post from Satoshi:

Quote from: satoshi on June 21, 2010, 01:48:26 PM

Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.

AsiaHODL

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Quote from: ? on October 29, 2024, 09:28:42 AM

Hello friends, this is my first discussion on the forum, and it's a pleasure to be part of this environment

I've always had a big question about the bitcoins in wallets that were lost over time. Of course, this is not something to worry about right now, but when will the limit of bitcoins be mined be reached? The circulation limit of the asset will not be just 21 million (value estimated by the system), it will be 21 million minus the bitcoins lost in wallets, which according to studies, is almost 4 million lost coins. This value will probably increase significantly as the year goes on.

What could happen to these lost bitcoins? Will they continue to be lost in "limbo" Huh

Think of them akin to gold coins which have floated to the bottom of the ocean. They still "exist", but are unlikely ever to be usable again by anyone who owned them.

Frankolala

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Bitcoin that is lost and cannot be recovered by the owners for some reason, will be as charity to the bitcoin community, and that will add to the value of bitcoin, because it will limit the quantity of bitcoin within the reach of people. This is why you need to backup your seed phrase in three locations far from each other to avoid a total lost, because you will not have access to your wallet anymore, and your bitcoin will be locked forever in the blockchain.

_act_

legendary

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Lightning network is good with small amount of BTC

The lost bitcoin is part of the coin in circulation as it will add to the marketcap. But because they are lost, this will increase the value of bitcoin because it will make bitcoin to be more scarce.

Quote from: ? on October 29, 2024, 09:28:42 AM

What could happen to these lost bitcoins? Will they continue to be lost in "limbo" Huh

If the owner of the coins lost their private key, the coin is lost forever.

?

Activity: -

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Hello friends, this is my first discussion on the forum, and it's a pleasure to be part of this environment

I've always had a big question about the bitcoins in wallets that were lost over time. Of course, this is not something to worry about right now, but when will the limit of bitcoins be mined be reached? The circulation limit of the asset will not be just 21 million (value estimated by the system), it will be 21 million minus the bitcoins lost in wallets, which according to studies, is almost 4 million lost coins. This value will probably increase significantly as the year goes on.

What could happen to these lost bitcoins? Will they continue to be lost in "limbo" Huh

Topic: [DISCUSSION] What will happen to the "lost" bitcoins? - page 3. (Read 467 times)