How many Bitcoins are lost forever? - page 31.

SebastianJu

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Quote from: gentlemand on June 30, 2015, 07:43:38 PM

Quote from: knowhow on June 30, 2015, 07:29:46 PM

yes but some stories about some hard disk that went trash and those bitcoins should be lost forever since no one would go into trash trrying to find those

You wouldn't dig around in some rubbish for a few million? People murder each other for less. The guy did look into a proper excavation but the site was too vast for it to be practical.

I already see the future business of wallet discovering. Buying used harddiscs on ebay, recovering the deleted data and searching for all kind of wallets.

I guess people that trade harddiscs anyway, might find once in a while something. The chance is low now but maybe in the future?

Amph

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Quote from: SmartIphone on June 30, 2015, 07:57:10 PM

People that use cold wallet and forgot the key.. these bitcoins are lost forever isnt it?

not rally, there is always a chance of a collision, especially in the future with quantum computer, so you can't really say that they are 100% lost, it isn't impossible to retrieve them in some way in the future

gentlemand

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Welt Am Draht

Quote from: SmartIphone on June 30, 2015, 07:57:10 PM

People that use cold wallet and forgot the key.. these bitcoins are lost forever isnt it?

If you've lost the private key then it's game over.

If your coins are stuck in a wallet with a password your odds are much higher of being able to remember it or getting someone to crack it for you if you can give them a few clues.

SmartIphone

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People that use cold wallet and forgot the key.. these bitcoins are lost forever isnt it?

gentlemand

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Welt Am Draht

Quote from: knowhow on June 30, 2015, 07:29:46 PM

yes but some stories about some hard disk that went trash and those bitcoins should be lost forever since no one would go into trash trrying to find those

You wouldn't dig around in some rubbish for a few million? People murder each other for less. The guy did look into a proper excavation but the site was too vast for it to be practical.

knowhow

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yes but some stories about some hard disk that went trash and those bitcoins should be lost forever since no one would go into trash trrying to find those

ThEmporium

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Quote from: jones techbit on June 26, 2015, 08:43:31 AM

A lot of these are lost wallets. Tons of early miners/adopters lost their computers/HDD with their wallets on them.

Not in tons, may be hundreds could be left their computers and Hard disk drives due to the wear and tear, Bitcoin came into the productions since 2009 and during those period very few hardly knew about this Bitcoin digital currency technology.

knowhow

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well it will stay on our dream the ammount near that arent mooved and lost really forever i guess people will try to hack the passwords on the next years since they dont see a change on the balance they will try it but well with new protection system they could acess the account but wont be able to send them to no where .. soo maybe the owner offer a reward it can return into the game

lockscreen

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how many bitcoin i lost is not comparable to how many bitcoin that i get
still try to recover that
but because i get free manner so i don't think about it xD

bitcointumbling.com

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You can't really answer that correctly, but it's quite interesting to think of how many have been lost due to that.

LiteCoinGuy

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In Satoshi I Trust

Quote from: bryant.coleman on June 27, 2015, 03:54:56 AM

Quote from: pooya87 on June 26, 2015, 02:03:32 AM

Quote from: wywoc1 on June 26, 2015, 12:17:29 AM

I think there are 20% percent of Bitcoin lost forever.

there are 14.3 million bitcoin in circulation right now so 20% is equal to 2860000BTC
you are claiming that there are 686 million dollar worth of bitcoin lost?

care to explain why you think that?

I don't know for sure, but the 20% figure given by wywoc1 seems to be quite possible. Some BTC5,300,000 were mined during 2009 and 2010, when the exchange rate was less than $0.001. Most of the people were mining just for fun then. Many of them threw away the coins which they mined, or lost them through negligence. If we assume that half of the coins mined during 2009 and 2010 are lost, then it comes to 20% of all coins in circulation right now.

i agree, at least 1-3 million seems to be reasonable.

tyz

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I guess you meant this story
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

The guy lost "only" 7,5k of his Bitcoins. It is a big amount but not as bad as 50k

Quote from: scarsbergholden on June 27, 2015, 02:40:32 PM

Quote from: Gyfts on June 27, 2015, 02:34:22 PM

I would speculate a lot of the lost coins came from the curious miners when Bitcoin developed. They just experimented with the concept and left BTC in a wallet they deleted shortly after. There were also a lot of stories (that made actual news stories) about how some have had a ridiculous amount of BTC in a hard drive which they just threw out.

Yea i saw a popular story that a guy that had 50k bitcoins on an old hard drive threw it out and actually when a few months back to the local garbage lot to try and find it, drive is still lost so im sure there are people still hunting the drive in the garbage lot like treasure hunters.

thebenjamincode

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37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

It's really impossible to know. I first need to have a superpower to know the answer. Thinking of what would be the answer squish my mind. But it's kinda an interesting question

pooya87

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Quote from: jt byte on June 27, 2015, 03:13:34 PM

yes bitcoins can die with you ...I've recently been thinking about that . I'll be printing out a paper backup and keeping it in a safe for my family in the future!!

yeah, that is actually a nice idea. you'll never know about your future. i have recently been working on creating a cold storage on linux with encrypted wallet and everything to prevent it from getting stolen but this is going to make it impossible for my descendants to have any access to my money Cheesy

i have to think of a solution...

jt byte

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yes bitcoins can die with you ...I've recently been thinking about that . I'll be printing out a paper backup and keeping it in a safe for my family in the future!!

scarsbergholden

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Quote from: Gyfts on June 27, 2015, 02:34:22 PM

I would speculate a lot of the lost coins came from the curious miners when Bitcoin developed. They just experimented with the concept and left BTC in a wallet they deleted shortly after. There were also a lot of stories (that made actual news stories) about how some have had a ridiculous amount of BTC in a hard drive which they just threw out.

Yea i saw a popular story that a guy that had 50k bitcoins on an old hard drive threw it out and actually when a few months back to the local garbage lot to try and find it, drive is still lost so im sure there are people still hunting the drive in the garbage lot like treasure hunters.

Gyfts

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I would speculate a lot of the lost coins came from the curious miners when Bitcoin developed. They just experimented with the concept and left BTC in a wallet they deleted shortly after. There were also a lot of stories (that made actual news stories) about how some have had a ridiculous amount of BTC in a hard drive which they just threw out.

BayAreaCoins

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Forever is a long time.

None are lost "forever".

Quote from: Herbert2020 on June 24, 2015, 11:09:34 PM

i think it is safe to assume all satoshi's bitcoins as lost forever, not because of lost private keys or anything, i am sure he has all of them but because he is not going to use any of those coins.

Wouldn't count on that...

I'm not going to get freaked when his coins start moving and I'm reasonably sure they will one day

.

BillyBobZorton

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Quote from: LiteCoinGuy on June 27, 2015, 03:48:34 AM

Quote from: Herbert2020 on June 24, 2015, 11:09:34 PM

i think it is safe to assume all satoshi's bitcoins as lost forever, not because of lost private keys or anything, i am sure he has all of them but because he is not going to use any of those coins.

exactly. i read alot of satoshis writings here on the forum and also emails to other forum members and the development process. you can see that his intention was not to get rich, Satoshis intention was to change the world. that is a little bit more than just money.

if he would move his old coins, he would hurt BTC very badly. iam pretty sure the deleeted the private keys.

I've always thought that was the case tbh, im surprised he would not even use 1 BTC. Are absolutely all of satoshi's addresses know? maybe he got some other addresses we never knew about, without not so many Bitcoins, but still enough to retire and live comfortably forever (anything from 1000 to 10000 BTC, which is nothing compared to some of the mega-holders out there).

crazyivan

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I would say between 5-10% of the total amount available. Still, the market says the current supply s enough to cover the demand. We ll see what happens next year when the block halves. I think this upcoming LTC block halving ll be a great test.

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