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Topic: How many Bitcoins are lost forever? - page 16. (Read 43090 times)

hero member
Activity: 1918
Merit: 564
November 10, 2016, 12:28:50 PM
I think that on this question is almost impossible to answer,but it is certainly of significant amounts.In the early days Bitcoin had almost no value and consequently those who have it are not really paying attention to security as is the case today.

For this reason I think that most Bitcoins is lost in this period.After price is hit 1000$+ people have become much more cautious,but even today we can read that people lose their coins in different ways.





I wonder how the people would feel like if they really did not give any importance to their bitcoins at that time and they see the price now, but that is actually right, a lot of people would have given no importance to it by thinking it's worth nothing and they have left their wallets with the coins and forgot the passwords or private keys and those bitcoins are locked their forever.

I think they don't mind it.  The reason is that the fact they did not gave importance to their bitcoins, they would probably forgot that they have bitcoins in their old hard disk.  So basically if that things happen, the bitcoin in that storage would probably gone forever.  There are many cases like this.  Bitcoins that have not moved from its addresses for years.  This maybe one of the coins that are lost forever because owner cannot access the wallet address holding it.
sr. member
Activity: 672
Merit: 250
November 10, 2016, 12:21:41 PM
I think that on this question is almost impossible to answer,but it is certainly of significant amounts.In the early days Bitcoin had almost no value and consequently those who have it are not really paying attention to security as is the case today.

For this reason I think that most Bitcoins is lost in this period.After price is hit 1000$+ people have become much more cautious,but even today we can read that people lose their coins in different ways.





I wonder how the people would feel like if they really did not give any importance to their bitcoins at that time and they see the price now, but that is actually right, a lot of people would have given no importance to it by thinking it's worth nothing and they have left their wallets with the coins and forgot the passwords or private keys and those bitcoins are locked their forever.
legendary
Activity: 3234
Merit: 5637
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November 10, 2016, 12:08:40 PM
I think that on this question is almost impossible to answer,but it is certainly of significant amounts.In the early days Bitcoin had almost no value and consequently those who have it are not really paying attention to security as is the case today.

For this reason I think that most Bitcoins is lost in this period.After price is hit 1000$+ people have become much more cautious,but even today we can read that people lose their coins in different ways.



full member
Activity: 238
Merit: 100
November 10, 2016, 11:26:31 AM
Obviously lot of bitcoin had been lost in human destruction like pc crashed, hard disk formatted, virus affected, lost device and lot of reasons. May be one had store bitcoin in paper wallet and later the paper got wet. I think I should not mention reasons here everyone know well that lot of bitcoin is lossed
hero member
Activity: 588
Merit: 500
November 09, 2016, 12:06:25 PM
I guess 1 million bitcoin is lost forever because previously it eas too cheap to be considered as money so many might have thought bitcoin as useless and thrown away hard disk or exit their wallet and forgot the password or private key.
That makes no sense. It's clear to every bitcoin user that bitcoins is an investment and they can sell it whenever they want. Throwing away your hard disk because you think is useless is absurd.

Even if the price of bitcoin faces a huge dip, I won't be throwing my hard disk away. First, because it contains all my files. Second, there's no point doing that. I haven't seen someone becoming so outrageous about the price decrease in bitcoins that it lead him into throwing away his hard disk.
hero member
Activity: 518
Merit: 500
November 09, 2016, 11:54:54 AM
I know it is a tricky question. What do you think, how many Bitcoins are lost forever and are 'out of the network' by lost private keys?
It is impossible to estimate the amount of Bitcoin which are lost forever. If you want to calculate this amount, you must make a big global analyze. however, Bitcoin is used anonymously by many organization and individual, which means we can never know exact data because there will be people who are not willing to provide the information about bitcoin they have lost.
full member
Activity: 210
Merit: 100
November 09, 2016, 11:52:18 AM
Everyday many user create fresh wallet and many user use it and many forget or get locked out of their wallet may be because of this and that reason. May be they had activated 2 way verification and unable to do it later of might have protected with ip and later the ip changed.
sr. member
Activity: 280
Merit: 250
November 09, 2016, 11:51:55 AM
I guess 1 million bitcoin is lost forever because previously it eas too cheap to be considered as money so many might have thought bitcoin as useless and thrown away hard disk or exit their wallet and forgot the password or private key.
full member
Activity: 238
Merit: 100
November 09, 2016, 11:50:36 AM
In my prediction more than 100000 bitcoin are lost May be more than that because some user forget their private key or wallet password and some losses Mobile devices where bitcoin was stored. And already there are many user who had destroyed or thrown away  their hard disk or digital storage media where bitcoin was stored and some pc get affected with virus and crashes the bitcoin's
legendary
Activity: 1008
Merit: 1060
November 08, 2016, 09:24:28 AM
Can someone please explain me how bitcoin can be lost?
There are bitcoin addresses that don't have a private key, some people lose their private key, some people accidentally send their bitcoin to a wrong address, the owner of the bitcoin address dies and didn't leave any clue about where is his private keys are stored, etc. Bitcoins that are stored in those addresses can never be recovered again, thus, it is as if it's lost forever. The coin still exists but it will never be in circulation again.
newbie
Activity: 51
Merit: 0
November 08, 2016, 09:01:11 AM
Can someone please explain me how bitcoin can be lost?
I don't feel they can ever be lost, losing the ability to access your wallet is the worst that can happen, but in reality the coins are still there.
newbie
Activity: 20
Merit: 0
November 08, 2016, 08:43:30 AM
Can someone please explain me how bitcoin can be lost?
hero member
Activity: 2646
Merit: 686
November 08, 2016, 05:40:01 AM
This is a very difficult question as each and every ones answer will be difficult, like it's not easy to say how many birds are there in the sky, cause at one time they may be more and at times less. I think whenever Bitcoin gets lost the supply decreases which increases the price. So I feel it's good that Bitcoins are lost and the price is increased. So feel relaxed about it and acculumate more.
member
Activity: 73
Merit: 10
November 08, 2016, 01:02:00 AM
I know it is a tricky question. What do you think, how many Bitcoins are lost forever and are 'out of the network' by lost private keys?
I agree it is a tricky question.  It can be a few million, however this like a few million people leaving loose change under a seat or tossing coins into a wishing.  Lossing private keys can happen even if you are very careful, a misstyped phrase or key is a lot of frustration if there was a lot of Bitcoins stored into the wallet.  It would be important to have a therapeutic support system for those that have lost a few thousand Bitcoins.
sr. member
Activity: 602
Merit: 250
November 08, 2016, 12:44:02 AM
I know it is a tricky question. What do you think, how many Bitcoins are lost forever and are 'out of the network' by lost private keys?
very tricky question, I can not confirm too ..
but to prevent this thing happened you tell one person that really you believe because if happened will be big problem for you
member
Activity: 84
Merit: 10
November 07, 2016, 10:24:56 PM
This question is directed primarily to the fact that everyone will just assume or guess the sheer number of casualties. But the real numbers we will never know.

yes true, I think like that. we do not know how much of a loss of bitcoin in this virtual world. I can only guess and speculate about things like this. so I personally do not know the amount of the loss bitcoin.

legendary
Activity: 1218
Merit: 1007
November 07, 2016, 10:05:51 PM
I think I read somewhere an estimation of up to 2 million being irreversibly lost. This means max 19 million in total should be available to investors/holders/miners.

Two millions of bitcoins are lost forever that is a huge amount. The same thing happen in the real world, when someone died or forget about an old bank account.

The money stays there without no one to claim it.

Satoshi alone owns probably a million coins. I'm not sure if these coins are included.
But a few known people of the crypto space say the number of lost coins will be something around 2-3 million.
So yes we will mostly have to deal with a number less than 21 million.
This will make it a bit easier for a few of us to reach the 1 of a million club, when theoretically only 1 million people could have had 21 coins each.
Most of the coins got lost in the very early days. People didn't realized the potential of Bitcoin, therefore forgot about it and their wallets with several thousands of coins for instance.
I would assume that these coins had to literally be forked out of the network in order for them to be "irreversibly lost". What evidence do they provide or the number they're giving? Bitcoins that are "lost" in private wallets literally don't mean anything, as they can still technically be "recovered", just after a very, very, very long time of searching.
hero member
Activity: 714
Merit: 531
November 07, 2016, 10:00:26 PM
no one can calculate how many coin will be lost daily or even forever, bitcoin has more users and we do not know how many are active and also more users forgot their bitcoin address which have bitcoin balance in each wallet.
sr. member
Activity: 812
Merit: 317
November 07, 2016, 04:13:54 PM
This question is directed primarily to the fact that everyone will just assume or guess the sheer number of casualties. But the real numbers we will never know.
Suh
full member
Activity: 146
Merit: 100
November 07, 2016, 02:09:13 PM
I think I read somewhere an estimation of up to 2 million being irreversibly lost. This means max 19 million in total should be available to investors/holders/miners.

Two millions of bitcoins are lost forever that is a huge amount. The same thing happen in the real world, when someone died or forget about an old bank account.

The money stays there without no one to claim it.


It's very smart reply !

there is always "lose things"

but fiat is issuing and issuing.. and it cause inflation..!

"lost things are not bad things. it keeps the value!"

Lost things are bad things, for those who lose them!
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