Is it possible to find lost bitcoins? - page 9.

aardvark15

hero member

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Quote from: senin on July 24, 2017, 03:04:11 PM

If the bitcoins were lost for some reason, no one will find them. They completely disappear from circulation. This is the essence of the digital currency. Therefore, it is necessary to reconcile that many bitcoins will disappear forever, if someone has forgotten the password from his mobile wallet or for other reasons has ceased to have access to it.

I agree that these are permanently lost coins. I think what will happen is that there will constantly be Bitcoins lost every year because of lost private keys, forgotten wallets, or just someone dies and no one knows they had Bitcoins. Or someone does and family members don't know how to access the Bitcoins.

What will happen is that at some point, there will be more Bitcoins lost every year than Bitcoins mined every year. This is because the number of Bitcoins mined will constantly be dropping while the number lost will increase.

biocoin_lavkalavka

newbie

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A digital currency that has been lost due to the forgetfulness or death of a user, a broken technique or intentional destruction can never be restored.
In addition, several thousand bitcoins were deliberately destroyed. For example, the start-up Counterparty "burned" 2130 bitcoins in the process of distributing its own digital currency called XCP and it was not a single case.

Soros Shorts

donator

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Quote from: tairus91 on July 17, 2017, 01:12:20 PM

Millions of bitcoins are considered lost. Who will find them?

What is your criteria that you used to get the "millions"? Coins that have not moved in the last 5 years? Just because they didn't move doesn't mean that those coins are lost. They could very well be in cold storage.

ebliever

legendary

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Quote from: tairus91 on July 17, 2017, 01:12:20 PM

Millions of bitcoins are considered lost. Who will find them?

Brute forcing private keys is hopeless. What might be possible is recovering bitcoin from wallets whose passwords have been lost if the wallet file is retained, if the passwords are not too difficult to crack. And there might be bitcoins considered "lost" because the original owner has died, and whomever inherited their equipment has not noticed/found/deciphered their bitcoin wallet setup (or paper wallet tucked away somewhere). There are varying degrees of "lostness" to bitcoins that are considered lost.

hosseinimr93

legendary

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The only way to have access to that bitcoins is importing them into a new wallet; and it's impossible without the private key. That bitcoins are out of circulation forever and nobody can use them.

senin

full member

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If the bitcoins were lost for some reason, no one will find them. They completely disappear from circulation. This is the essence of the digital currency. Therefore, it is necessary to reconcile that many bitcoins will disappear forever, if someone has forgotten the password from his mobile wallet or for other reasons has ceased to have access to it.

stompix

legendary

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Blackjack.fun

Nobody.

Because they are not hidden in sand on some island or in some garbage bin.
They are hidden by math.

https://bitcointalksearch.org/topic/what-are-the-chances-of-an-address-collision-and-what-happens-when-it-does-104461
https://bitcoin.stackexchange.com/questions/22/is-it-possible-to-brute-force-bitcoin-address-creation-in-order-to-steal-money

Haven't double checked the numbers but those might be close, basically you will need 2^45 years.

tairus91

newbie

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Millions of bitcoins are considered lost. Who will find them?

Topic: Is it possible to find lost bitcoins? - page 9. (Read 6398 times)