How many Bitcoins are lost forever? - page 9.

abel1337

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Quote from: tyz on January 14, 2017, 09:15:43 AM

Three millions of lost Bitcoins? This can just be an estimation. As far as I know, there is no evidence of such a big loss of Bitcoins.
This would mean that only 13 of 16 million mined Bitcoins are available for circulation. I would be interested in knowing where on Reddit you can find the thread.

Quote from: BillyBobZorton on January 08, 2017, 01:10:59 PM

Quote from: KennyR on January 08, 2017, 08:19:05 AM

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

I agree this is surely an estimation how can you know if bitcoin transaction is anonymously done. Maybe you have collected so many data and compiled it so you can make your estimation. We can just assume that this lose are accidents.

tyz

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Three millions of lost Bitcoins? This can just be an estimation. As far as I know, there is no evidence of such a big loss of Bitcoins.
This would mean that only 13 of 16 million mined Bitcoins are available for circulation. I would be interested in knowing where on Reddit you can find the thread.

Quote from: BillyBobZorton on January 08, 2017, 01:10:59 PM

Quote from: KennyR on January 08, 2017, 08:19:05 AM

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

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Quote from: KennyR on January 08, 2017, 08:19:05 AM

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

MMA

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Quote from: KennyR on January 08, 2017, 08:19:05 AM

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

but i think it is really very difficult to calculate the actual number of bitcoin that has been lost, because no one can know that who has lost the key of their wallets and how can we consider bitcoin as lost because no one even know the actual number of bitcoin users.

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Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

anasis

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Losses necessarily exist, but only a very small percentage. I do not think that those who have lost their passwords from purses will not be able to recover them, and that is another key issue. But if a person is engaged in bitcoin, it is very friendly and does not allow problems. Although anything can happen.

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Quote from: RealBitcoin on January 08, 2017, 02:26:43 AM

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

I think that this is not possible to count the number of the lost key. The very blockchain technology implies a lack of control, but here this is the case.

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Quote from: stomachgrowls on January 08, 2017, 02:36:17 AM

Quote from: RealBitcoin on January 08, 2017, 02:26:43 AM

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

>90% is just a huge percentage which is somehow impossible basing on the movement of bitcoin addresses throughout the blockchain but well you have said this thing then i wont argue.Thats a good news that someone create a script on which knows how many inactive addresses are there but one things for sure those addresses are composed of lost bitcoins and some are just built for storage for long term investments.

Bitcoin is often featured in various speculations about the financial operations cryptocurrency. But first of all it will all depend on what the price of bitcoin. Visit bitcoin were still in the early days of its inception, but not now.

stomachgrowls

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Quote from: RealBitcoin on January 08, 2017, 02:26:43 AM

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

>90% is just a huge percentage which is somehow impossible basing on the movement of bitcoin addresses throughout the blockchain but well you have said this thing then i wont argue.Thats a good news that someone create a script on which knows how many inactive addresses are there but one things for sure those addresses are composed of lost bitcoins and some are just built for storage for long term investments.

RealBitcoin

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Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

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Quote from: Digitalbitcoin on January 08, 2017, 02:15:39 AM

Quote from: tyz on June 23, 2015, 12:59:30 PM

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?

Its very sensitive topic and I think every newbie must have to aware before doing procedure of own bitcoin wallet on own desktop or laptop even in web wallet also. Because if you have btc on particular wallet address but if you forget private keys of your wallet then it make big trouble. As no one can use that bitcoins without private keys.

When we are completely newbie we should really learn how to use either online of offline wallet and remember on the important thing related into it and you are right if those wallet lost its private keys then it wont really be recovered no matter what which is considered as lost forever and just floating on bitcoin network.

Digitalbitcoin

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Quote from: tyz on June 23, 2015, 12:59:30 PM

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?

Its very sensitive topic and I think every newbie must have to aware before doing procedure of own bitcoin wallet on own desktop or laptop even in web wallet also. Because if you have btc on particular wallet address but if you forget private keys of your wallet then it make big trouble. As no one can use that bitcoins without private keys.

one-day0

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Quote from: tyz on January 04, 2017, 04:30:35 AM

This article has already been posted in the discussion. The listing only covers very well-known cases. Like this, where one has discarded his hard drive and after Bitcoin reaches $ 1000, he realized that he was actually a millionaire. But it does not show the many microbalances of Bitcoin that are lost daily just through usage.

Quote from: Wandering Soul~ on December 27, 2016, 12:32:27 PM

This is a great article about that: https://www.cryptocoinsnews.com/thousands-bitcoins-lost-time/ . It only says nuber of PROBABLY lost coins not the exact number of course . If there is article saying the exact numbers then it is definitely fake or untrustable data cause there is literally no way to determine it .

Some may see it as a problem when bitcoin has fully adopted and were running out of supplies . May be in the future 1 satoshi can be also divided into portions if a really huge number of bitcoins are lost .

Looking at the bright side, If the supply gets lower and the demand continuosly increasing then the price will be also .

I can not understand why everyone is interested in the number of missing bitcoin. Is that what that is important. If someone has already started to earn bitcoin, it will not throw coins anywhere.

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Quote from: pinoycash on January 04, 2017, 04:33:45 AM

From the Dust Amount from faucets, from forgotten wallet. its ard to know how mych, i even got atleast 10 blockchain accounts since 2 years back and i forgot all about them due to newbie mistakes and it some satoshis left in each in every account

If you lose the keys is a big problem than just passwords from purses and accounts. It is always possible to restore access.

pinoycash

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From the Dust Amount from faucets, from forgotten wallet. its ard to know how mych, i even got atleast 10 blockchain accounts since 2 years back and i forgot all about them due to newbie mistakes and it some satoshis left in each in every account

tyz

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This article has already been posted in the discussion. The listing only covers very well-known cases. Like this, where one has discarded his hard drive and after Bitcoin reaches $ 1000, he realized that he was actually a millionaire. But it does not show the many microbalances of Bitcoin that are lost daily just through usage.

Quote from: Wandering Soul~ on December 27, 2016, 12:32:27 PM

This is a great article about that: https://www.cryptocoinsnews.com/thousands-bitcoins-lost-time/ . It only says nuber of PROBABLY lost coins not the exact number of course . If there is article saying the exact numbers then it is definitely fake or untrustable data cause there is literally no way to determine it .

Some may see it as a problem when bitcoin has fully adopted and were running out of supplies . May be in the future 1 satoshi can be also divided into portions if a really huge number of bitcoins are lost .

Looking at the bright side, If the supply gets lower and the demand continuosly increasing then the price will be also .

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Quote from: PokerFace3 on December 30, 2016, 02:27:37 PM

Quote from: neonshium on December 27, 2016, 12:23:55 PM

Quote from: jobach on December 25, 2016, 01:03:02 PM

many but it will make BTC expensive , because total investment / (total supply - total lost forever) is more than total investment/ total supply

this is correct. bitcoin's totally circulation amount is reducing day by day. specially after those so many altcoin projects and their ICO... thousands of BTC still frozen in ICO escrow addresses. thats also a reason of bitcoin price increase.

The reason why the bitcoin circulation is frozen is because many people are holding and waiting of the price to get a $1000 so they start selling, and the constant demand on it drives the price even high and the higher the price the more people greed and hold the bitcoin even more, but we will see a big change in the price when it reaches $1000 or beyond that also.

And we reached $1000, and people still do not want to exchange it (I'm one of them). This is the bad part: you never know when the price gets to the top, and we're all looking for it to go even higher so pretty much nobody will spend it right now except those that are scared that it'll go down. With every $10-$25 going up every day, you always want to hope it will not stop soon. I am also hoping it's going to skyrocket in a few months, but I don't know if it will really happen. If it does, then we will know that in four years the same thing will happen. The questions are: when will it happen and by how much will it go up?

tyz

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It is only possible when you use a brain password. If password is chosen badly it could be that some time in the future someone will reaccess the Bitcoins. It does not really reduce the risk to lose Bitcoin. If you do not use a brain password it is almost impossible.

Quote from: mikecgna on December 25, 2016, 12:51:00 PM

Quote from: Mozdalifa17 on December 25, 2016, 12:24:52 PM

Quote from: aardvark15 on December 25, 2016, 12:03:34 PM

There's no way to calculate lost Bitcoins. But we do know that once they are lost, it is virtually impossible to get them back because you would need to get lucky with guessing the private key. There are probably Bitcoins lost every day, so this could help increase the value of the remaining Bitcoin.

i am not a programmer specialist but anytime in the future , someone might find possibility to return them back (lost bitcoin) , or even bitcoin foundation . ??

As far as I know it is possible to recover all passwords from the wallet if lost. Thus the risk of losing bitcoin reduced.

PokerFace3

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Quote from: neonshium on December 27, 2016, 12:23:55 PM

Quote from: jobach on December 25, 2016, 01:03:02 PM

many but it will make BTC expensive , because total investment / (total supply - total lost forever) is more than total investment/ total supply

this is correct. bitcoin's totally circulation amount is reducing day by day. specially after those so many altcoin projects and their ICO... thousands of BTC still frozen in ICO escrow addresses. thats also a reason of bitcoin price increase.

The reason why the bitcoin circulation is frozen is because many people are holding and waiting of the price to get a $1000 so they start selling, and the constant demand on it drives the price even high and the higher the price the more people greed and hold the bitcoin even more, but we will see a big change in the price when it reaches $1000 or beyond that also.

Bitcoin0916

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Because bitcoin can not be controlled, of course we will be difficult to ascertain how much was lost. If someone say 100 btc, 1,000 btc, etc. it's just their opinion, because they cannot to prove.

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