How many Bitcoins are lost forever? - page 18.

tyz

legendary

Activity: 3360

Merit: 1533

Well, I gambled too much and I lost too much, so I know what I am talking about. The thing is, this thread is not about losing Bitcoin in gambling but losing Bitcoin in comon where you have no access to the private keys anymore Wink

Quote from: Pattart on February 20, 2016, 05:39:33 AM

Quote from: Albert Einstein on February 19, 2016, 12:26:33 AM

This question is such a difficult question to answer. I only know that whatever i think is a lot less than what has actually been lost. It will always stay as a mystery as we can never be sure of the exact number

I think you often play in gambling, so you do not know. how much did you lose? am i right ?

Hugroll

hero member

Activity: 756

Merit: 500

Quote from: blackbird307 on February 20, 2016, 08:08:50 AM

I don't know if 30% is accurate. No on will know. But I think a better percentage would be somewhere 5-10%.

ya 30% seems definitely too inflated to me. if i had to guess i would say that around 3-5% of bitcoins are in unknown private keys.
but that number can only get bigger from there. its not like people are going to start finding their coins again.

krunox123

hero member

Activity: 756

Merit: 500

I don't bite.

Quote from: blackbird307 on February 20, 2016, 08:08:50 AM

I don't know if 30% is accurate. No on will know. But I think a better percentage would be somewhere 5-10%.

It is very hard to get an estimate numbers since nobody knows if these coins that is not touched for years is the coin owner intention or not. Perhaps there is less than 30% coins are lost.

Ruzka

hero member

Activity: 826

Merit: 1000

Quote from: Kevin77 on February 20, 2016, 01:06:21 PM

It's sad to read that over 2100 btc has already been lost due to people forgetting their private keys and being unable to access their wallets. These coins are definitely a loss as mined coins are limited and with these coins just lying idle in the wallet, even blockchain or another site cannot access them ever.

I could not be more sure that it is a lot more lost than just 2100btc, where did you get this number?
I myself have lost 3btc due to not being on the ball with my back ups.
All in all. Every coin lost just makes the remaining more valuable so yes it is a loss to the person but not to bitcoin or its holders as it makes the remaining coin that little bit more valuable.

Kevin77

legendary

Activity: 1652

Merit: 1057

It's sad to read that over 2100 btc has already been lost due to people forgetting their private keys and being unable to access their wallets. These coins are definitely a loss as mined coins are limited and with these coins just lying idle in the wallet, even blockchain or another site cannot access them ever.

bitbitch

sr. member

Activity: 434

Merit: 250

Quote from: agusmf on February 20, 2016, 09:57:51 AM

Almost every time I bring up
Bitcoin to someone new this
question arises. I think it's an
important topic but difficult to
give a solid answer.

it's important. it changes the supply side number significantly. however, they are permanently dead coins. of greater importance is the % of live coins held by a small number of people. live coins have the power to move the market. concentrated in the hands of a few they can 'make' the market, and then 'decentalization' is a moot point.

agusmf

full member

Activity: 126

Merit: 100

Handsome Man

Almost every time I bring up
Bitcoin to someone new this
question arises. I think it's an
important topic but difficult to
give a solid answer.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

A lot, and the good news for all of this is that the amount of Bitcoins being created will eventually be smaller than the amount of Bitcoins that are the being lost, so that means more Bitcoins will be lost that newly created ones which means deflation which means holders get richer.
Right now owning 21 BTC means waaay less than 1 million people on earth as possible owners of 21 BTC each ever.

bitbitch

sr. member

Activity: 434

Merit: 250

Quote from: blackbird307 on February 20, 2016, 08:08:50 AM

I don't know if 30% is accurate. No on will know. But I think a better percentage would be somewhere 5-10%.

i watched a bitcoin presentation last year based on academic research. the extrapolated figure given was 30%. much of that exists as small satoshi quantities marooned in long since abandoned accounts. too little money for account holders to care about, but in total a great deal of money at present prices.

even i have a small quantity sitting in an account that i can't be bothered to manage. at present prices it's probably worth about $5.

blackbird307

full member

Activity: 238

Merit: 100

★YoBit.Net★ 350+ Coins Exchange & Dice

I don't know if 30% is accurate. No on will know. But I think a better percentage would be somewhere 5-10%.

ekoice

hero member

Activity: 742

Merit: 500

Quote from: bitbitch on February 20, 2016, 07:37:13 AM

30%

This question needs to be clarified first since it is quite confusive. There are 2 ways either the bit coins permanently lost or become lost from network if we lose our keys or passwords.

bitbitch

sr. member

Activity: 434

Merit: 250

30%

bitgolden

legendary

Activity: 3024

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

Quote from: voztata on February 20, 2016, 06:03:54 AM

I guess over 2000 BTC must have been lost by now as there are so many users who come to this forum complaining they have 10-20 BTC held up in their bitcoin wallet which they cannot recover due to lost/forgotten password.

Has anyone got an answer of total lost bitcoin yet. Other than lost password, many users who owned bitcoins in 2010 just abandoned their coins due to the low price and then never showed up. So, it would be more hard to find the real number.

voztata

hero member

Activity: 998

Merit: 504

I guess over 2000 BTC must have been lost by now as there are so many users who come to this forum complaining they have 10-20 BTC held up in their bitcoin wallet which they cannot recover due to lost/forgotten password.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: Albert Einstein on February 19, 2016, 12:26:33 AM

This question is such a difficult question to answer. I only know that whatever i think is a lot less than what has actually been lost. It will always stay as a mystery as we can never be sure of the exact number

I think you often play in gambling, so you do not know. how much did you lose? am i right ?

tyz

legendary

Activity: 3360

Merit: 1533

This thread is not about how many Bitcoins someone has lost in trading or elsewhere, rather the thread is about how many Bitcoin are lost because they are not accessible anymore because the private key has been lost.

Your Bitcoins are not really lost, they are in the hands of someone else now Cool

Quote from: Farma on February 18, 2016, 01:17:47 PM

I recently lost 0.01 BTC is currently trading play, if I count all amounts bitcoin I omit, maybe it is 0.2 BTC, the amount to quite a lot of thought Sad

pereira4

legendary

Activity: 1610

Merit: 1183

You would need to know very specific data about who owns what and it's impossible, therefore its just not possible to tell, we also don't know if an address that hasn't done any movements for years means the dude lost all he coins or its just a case of long term holding. Just to give a random number I estimate at least 1 million coins lost forever by now.

blackmachinegun

hero member

Activity: 532

Merit: 500

maybe a lot of people who suffered like me. lost more than 1 BTC in a ponzi or hyip.
I've lost 0.14 BTC in one day, because I invested the site to be a scam, I was very sad at that time

Supercrypt

legendary

Activity: 1554

Merit: 1054

Quote from: LoyceV on February 18, 2016, 01:29:47 PM

Quote from: virtualdn on January 23, 2016, 06:48:21 PM

an important part may be lost because some people forgot their keys or from other causes. that makes it even valuable...because from 15 mil. coins probably only 12-13 millions are still active - do you know what will mean to own 1 coin ? Wink

My question now is: how good/bad is this for Bitcoin? Yes it's value may go up as more coins are lost, but on the other hand it does not inspire confidence to people if your money can be lost this easily!
Just like I once read that fraud should be added to the transaction cost, just like the cost of fraud is included in a credit card fee. If you include this, Bitcoin transactions are much more expensive than conventional banking. If 10-20% of all bitcoins are lost in just 7 years, how likely are you to still have your coins a few decades from now?

It is bad for bitcoins as the network constantly keeps checking the number of coins mined everyday and with most of the coins being lost in wallets, the number of coins in transaction are pretty less. It cannot affect the price but it could lead to shortage of coins just like what happens to fiat. There is a limit to the number of coins that can be mined.

Pk880058

sr. member

Activity: 266

Merit: 250

i dont know how can anyone forget the password or the seed key when it can be written in a safe place, wallet.dat file is ok that you have to save it in other place if computer gets crashed that time this problem occurs but that can also be solved , so if this all things are avoided with small safety then their wont be any lost of Bitcoins forever

Topic: How many Bitcoins are lost forever? - page 18. (Read 43090 times)