Lost Bitcoins - page 5. | Bitcointalksearch.org

hector3115

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Quote from: Cult on July 01, 2018, 02:39:42 PM

Actually, lost bitcoins don't post any significat threat for us. If they are lost forever, market has already adjusted to that fact and as far as btc can be divided to 8 decimal places that lack of supply would be easily copensated even if bitcon's price surges.

Good point. How often bitcoin is lost it because people forget the keys to the wallets. It is only human Factor I think and market are all the ready adjusted does it affect.

DiabolicAnt

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I think nowadays more people realize the value of BTC and they will keep it more carefully, so we won’t get to the point when the amount of lost BTC is so big that it damages the system.

naidray

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Quote from: dante golo on July 01, 2018, 07:21:06 AM

Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Losses for an investor would be difficult to avoid so that makes the economic system becomes weak and in search of an income every time have problems.From there it can be seen that the world of cryptocurrency is actually very positive impact on one's life.

Yes, losses are inevitable and this is something we will keep getting to see in this space over and over again since we will get to see careless ones, those who nature could cause their loss and so on.

With respect to what the OP have said though, there is still a lot to fly around and one thing with those lost coins anyway is that they are still part of the circulation supply and for one fact, even without them being lost, if bitcoin gets mainstream adoption, it would still increase in value anyway based on huge demand, but I understand that if there are part of it not flying around, we sure will have more demand than supply.

TanteStefana

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Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

I have heard that it is not more than 5% bitcoin are lost, so I don’t think it is a big deal for us, the more bitcoins are lost it means that the rest gains more value than they were before.

Voidcrafter

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Quote from: Thirdspace on February 22, 2018, 08:11:30 AM

Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

that's why we have 8 decimals. 10.87654321
if more and more coins lost due to whatever reasons, we can use smaller unit/denomination
as of now the standard is BTC, in the future when bitcoin very scarce we can say in term of mBTC or uBTC as standard

the exchange rate can be adjusted properly as needed too
imagine saying selling 0.001 BTC at rate $100,000 /BTC,
wouldn't it be easier to say selling 1 mBTC at rate $100 /mBTC

I also support your point of view. That one day we will find out that bitcoin is worth 1BTC= $ 1,000,000 . and 0.000001 BTC will be equal to$ 1/ That's when everyone who cried and said that bitcoin is dead and it's all a pyramid, will bite their fists that did not have bitcoins. Be patient waiting for your treasure. There will surely come a day when people in the digital world will understand the value of cryptocurrency and its main favorite-BITCOIN.

umbara ardian

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if you lose the bitcoin you have then surely you will not be able to return it again because bitcoin will move or move to another wallet so you better be careful when saving bitcoin.

denisaardelean

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Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

I think that at this time you should not continue bitcoin trading, it can be seen that bitcoin prices are constantly decreasing and at the moment is adjusting at $ 6500 and still showing signs of further down. . So I think that at this time of trading it is very difficult to stay out of the market so that you can minimize the risk and choose a better time to enter the market.

peter_coin

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Alot of people have lost their BTC in the past and many are still going to lose them in the future, but guess what? The price of BTC keeps on increasing because it is very important and also the law of demand and supply favours the fact that it's price would rise when it's supply is low since it's demand as we all know is very high, thus lost bitcoins would help the price and not destroy the system.

Grenee

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Bitcoin still remains the best despite the issue of fallen. However I still believe that bitcoin rules the cryptocurrency althrough

el kaka22

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Quote from: stellgod on July 05, 2018, 04:02:53 AM

One of my friends bought about 5000 bitcoin few years ago when the price was just a few dollars. He lost his wallet address. He was almost become mad. When the price reached to $20k, he was searching for his address. Finally he found his wallet address and now he is the richest person in the community. 5000 bitcoin is very huge amount and losing such huge money will make you crazy.

Good for him that he eventually found the control to the wallet. There are so many people who actually could not even get access and totally lost hope already to finding their wallet and only to keep looking at the block explorer to see the value of their funds increasing.

It is one of those things anyway and that is one of the reasons why the deflationary aspect of bitcoin makes sense and no matter what, the number of satoshi that makes up a single bitcoin like someone rightly said while reading through the forum is definitely going to end up compensating for the lost ones.

Infinitely divisible virtual currencies and inflated fiats are not comparable each other in my opinion. Those number of lost bitcoins will have significant impact to rest of bitcoins in coming days, and we need to accept and may enjoy that as it will give positive impact in terms of price appreciation. Because, this is how Mr. Satoshi had assumed for betterment of the bitcoiners and designed the bitcoin system.

twostepsally

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Quote from: katak mercat on July 05, 2018, 09:51:39 AM

I also think the same thing with you, we never know when death will come, but I am sure there will always be ways to solve a problem, maybe later there will be a solution to overcome it all

Most of the people don't know how to use and plan to work. It good opportunity for the future saving and future improvement. If want to get more profit. First plan to invest. If invest right time. Then easy to use the and time to acct and complete the process. People get more information from bitcoin. So if price will be low that time don't try to sell wait for the price increase then plan to invest. Market price is help to get the more profit.

katak mercat

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I also think the same thing with you, we never know when death will come, but I am sure there will always be ways to solve a problem, maybe later there will be a solution to overcome it all

C. Bergmann

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Quote from: Thirdspace on February 22, 2018, 08:11:30 AM

Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

that's why we have 8 decimals. 10.87654321
if more and more coins lost due to whatever reasons, we can use smaller unit/denomination
as of now the standard is BTC, in the future when bitcoin very scarce we can say in term of mBTC or uBTC as standard

the exchange rate can be adjusted properly as needed too
imagine saying selling 0.001 BTC at rate $100,000 /BTC,
wouldn't it be easier to say selling 1 mBTC at rate $100 /mBTC

You has a good point because it is hard to compute when there are too many decimals are there and it is too hustle to compute when the price was too high.

But I think the supply getting low and the price was still high and I see that when there's a thing happen like that, the coin must get low soon because when you have a good coin, there are possibility that too many holders sell their coin.

The bitcoin was not finish to mine so it control the value of bitcoin to get more higher chance to have a high value.

jonatuzc

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This will be the most important deal of bitcoin. There are risks and there are benefits. With the technology we have now the computres and machines will become so much strong that other people will start to work on getting lost coins back.

If there are coins thats not owned by anyone or owned by someone but he doesn't have reach these new technology will allow us to recover those coins for either themselves or whoever lost it. The only bad side could be that under the wrong hands these machines might get your money as well and focus their power to hot wallets of big websites. Both a good thing and a bad thing.

stellgod

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Quote from: Pinoyfan on July 01, 2018, 08:46:49 AM

Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Cause we should do the future, I even if it you are respectable with cryptocurrency that the future. The first is a new way to keep the market. The real problem is a good news for the right now, and the market. I do a good job of cryptocurrency is not capitalism, and the market

One of my friends bought about 5000 bitcoin few years ago when the price was just a few dollars. He lost his wallet address. He was almost become mad. When the price reached to $20k, he was searching for his address. Finally he found his wallet address and now he is the richest person in the community. 5000 bitcoin is very huge amount and losing such huge money will make you crazy.

Cult

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Enter the future of gaming

Actually, lost bitcoins don't post any significat threat for us. If they are lost forever, market has already adjusted to that fact and as far as btc can be divided to 8 decimal places that lack of supply would be easily copensated even if bitcon's price surges.

Pinoyfan

member

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Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Cause we should do the future, I even if it you are respectable with cryptocurrency that the future. The first is a new way to keep the market. The real problem is a good news for the right now, and the market. I do a good job of cryptocurrency is not capitalism, and the market

ivankoh

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Quote from: BestSSS on June 28, 2018, 03:04:51 PM

No one knows exactly how many bitcoins are lost in the wallets of the old owners and nothing can be done about it. But even without this, the price of bitcoin will gradually increase every year, as there is a deficit. People wishing to get it become more and less tokens themselves here and have it.

Yes, because the total number of Bitcoins remaining on the market is very little, so according to the rule of supply-demand, the value of Bitcoin will grow year by year. I believe Bitcoin will achieve a new milestone this year than 2017.

dante golo

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Quote from: revCrypto on February 22, 2018, 07:22:28 AM

When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?

Losses for an investor would be difficult to avoid so that makes the economic system becomes weak and in search of an income every time have problems.From there it can be seen that the world of cryptocurrency is actually very positive impact on one's life.

InKiTy38

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Did you lose bitcoin for any reason? You lost your wallet or lost your wallet or you traded but the value of them was low, causing you to lose the amount of capital you had invested before. Be optimistic you will quickly get back the bitcoin already lost

Topic: Lost Bitcoins - page 5. (Read 1183 times)