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Topic: Does loss of BTC affects total amount of BTC in total supply. - page 3. (Read 366 times)

legendary
Activity: 2380
Merit: 5213
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?
Coins lost due to losing private keys or seed phrase are out of circulation, but they are not provably removed from the circulation.
The only coins that are provably removed and will be never spendable are those that are haven't been claimed by the miners and those that have been burned using OP_RETURN.
legendary
Activity: 2352
Merit: 1087
21 million supply of bitcoin is fixed and the "lost" bitcoins will stay in their wallet and will not disappear and would not affect the total supply of bitcoin. the only thing it will affect is the total supply of Bitcoin that is and will be in circulation(as Nwada001 mentioned).
hero member
Activity: 602
Merit: 638

Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?


It can't affect cost of the entire supply, it will only reduce the circulating supply.
Those lost Bitcoin will no longer be in circulation but they will not be removed from the total supply.
hero member
Activity: 742
Merit: 529
Irrespective of rank I believe am still learning in gradual steps about bitcoin and therefore have this question to ask, it would be of good consequence for me if am well enlightened on this particular subject about bitcoin. So just in case,  someone I might want to talk to about bitcoin for the very first time happens to ask me I can comfortably address it too.

Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?

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