Topic: [DISCUSSION] What will happen to the "lost" bitcoins? - page 3. (Read 628 times)
Given enough time, lost coins will be reclaimed by technology that is able to claim them. Of course when the time comes non-lost coins will not be vulnerable to the same technology that claims lost coins.
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"
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"
Yes
Neither the owner nor anyone else will have access to the coins
Well atleast it's not with someone else
The only validly lost bitcoin is that sent to a burn address, like using the the usual OP-return method which means the output can never be spent, this is the only way the coin is lost in my opinion.
It's true that OP-return outputs are lost and can never be spent, but they are not the only coins that have provably been lost. There were coins that were lost because miners didn't claim them when mining blocks and there were also coins that were lost due to the coinbase transactions having the same hashes.
It will be difficult to correctly estimate the total number of lost coins. Some old dormant wallets which are suspected to contain lost coins can suddenly become operational in the future. In economics, the availability of an asset usually affects the price. Lost Bitcoins reduce the number of Bitcoins in the market which will slightly increase their worth. The higher the number of lost Bitcoin the more valuable the worth of Bitcoin.
I don’t even consider bitcoin been lost if they are actually still on a spendable address, many people consider bitcoin sent to a wrong adress as a lost coin, although it is not common but I believe if bitcoin is sent to an address that is with a correct checksum that particular bitcoin isn’t lost because there is tendency of it been spent. The only validly lost bitcoin is that sent to a burn address, like using the the usual OP-return method which means the output can never be spent, this is the only way the coin is lost in my opinion. Right most of all this assumed lost bitcoins could be long term holders who left it dormant
What could happen to these lost bitcoins? Will they continue to be lost in "limbo"
It will be difficult to correctly estimate the total number of lost coins. Some old dormant wallets which are suspected to contain lost coins can suddenly become operational in the future. In economics, the availability of an asset usually affects the price. Lost Bitcoins reduce the number of Bitcoins in the market which will slightly increase their worth. The higher the number of lost Bitcoin the more valuable the worth of Bitcoin. 
What could happen to these lost bitcoins? Will they continue to be lost in "limbo"
Since you are relatively new to Bitcoin, I advise you not to fall for the scam that all things lost can be found in the space because Bitcoin is one of those things that, if lost, cannot be recovered. There have been many scammers who have tried many times to pose as having the capability to recover lost Bitcoin; some people have been victims of them, but to give you a warning, @OP, avoid such, because it is a scam!
It keep running on my head that how do we practically proof that there are lost bitcoins before deliberating on what would happen to them.
This is skeptical because there are long time holders who could even hold bitcoin for generational inheritance. So do we assume such wallet holding such bitcoins assuming over 15 years plus without processing of transcriptions all those while be termed lost funds as much as those who has lost permanent access to their wallets?
How do we literally different this ? I mean how can the system detect lost or misplaced bitcoins when the actually owners never voiced out?
But to my view, I think those misplaced bitcoins are gone forever but though I read that there is an ongoing development system that is being initiated to the capability of recovering those lost bitcoins but that would be determined in a far future .
This is skeptical because there are long time holders who could even hold bitcoin for generational inheritance. So do we assume such wallet holding such bitcoins assuming over 15 years plus without processing of transcriptions all those while be termed lost funds as much as those who has lost permanent access to their wallets?
How do we literally different this ? I mean how can the system detect lost or misplaced bitcoins when the actually owners never voiced out?
But to my view, I think those misplaced bitcoins are gone forever but though I read that there is an ongoing development system that is being initiated to the capability of recovering those lost bitcoins but that would be determined in a far future .
~snip
Well firstly,I really don't know if you are a core English person or if English is your regular language (no offence) but I believe forum or community is a better fit for thid context than environment. However with respect to you point, lost coins simply means that the owner of that particular wallet lost his keys and his seed phrase. Which literally means there's no possible way of spending the coins in that wallet. Although it actually isn't a donation to the network, but it's literally similar to burning your coins.To burn some coins you send them to an address which you lost the keys and seed meaning there is actually no way to access or the coins.Lost coins are actually beneficial to the bitcoin network because it preserves price since it's like an anonymous HODLer is hodling indefinitely causing circulating supply to reduce increasing price.
In satoshi word, lost bitcoin is a donation to every other bitcoin holder and just as act said it a charity since it will never be recovered even though it exists in the network, but no one can ever have access to such bitcoin and that means bitcoin becoming more scarce which eventually will increase the value and price if bitcoin and that is the reason satoshi titled it as a form for donation.
What could happen to these lost bitcoins? Will they continue to be lost in "limbo"
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:
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
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"
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"
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.
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.
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.
What could happen to these lost bitcoins? Will they continue to be lost in "limbo"
If the owner of the coins lost their private key, the coin is lost forever.
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"
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"
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