Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
Topic: Lost Bitcoin a donation to everyone - page 4. (Read 617 times)
I believe this guy knows what he's talking about:
should we take such accidents as a donation to Bitcoin holders?
Lost bitcoins lead to a reduced supply and a thinner supply flow against demand usually results in a increase in the price.Does it really benefit other holders? I would say it is a zero sum game; Firstly,it's a regrettable situation for one to lose access to their bitcoins due to carelessness or ignorance and it presents a risk that could demotivate some from getting into bitcoin; An average Joe would not want to be entirely responsible for their assets, where one wrong move could result in it getting lost.
Secondly, determining what bitcoin are lost is purely down to speculation, except the holders come out publicly. So adding some more couple thousand bitcoins into the lost pool which cannot be determined does not do much for it to be a benefit to other holders.
Burning coins is actually a thing in some altcoins - often to get higher rewards of another token or some other potential gain.
But yes there are a lot of predictions on how much could actually have been lost from people this way. It's obviously hard to tell who's still holding and who isn't, and then the other question of whether any of satoshis funds (or any of the original blocks will be spent at some point or if they're just lost).
But yes there are a lot of predictions on how much could actually have been lost from people this way. It's obviously hard to tell who's still holding and who isn't, and then the other question of whether any of satoshis funds (or any of the original blocks will be spent at some point or if they're just lost).
I read on lost Bitcoin today on the coin telegram on the topic of lost Bitcoin and I stopped to wonder what benefits the lost Bitcoin are to every holder, there is no gainsaying how much Bitcoin we have all lost due to one reason or the other some to a wrong address I hard of a guy that lost the private key to a wallet holding about 13,000 Bitcoin and wants to ask should we take such accidents as a donation to Bitcoin holders?
Jump to: