Lost bitcoins | Bitcointalksearch.org

MakeBelieve

hero member

Activity: 602

Merit: 500

Quote from: CIYAM on November 12, 2013, 08:43:35 AM

This question gets asked at least once per month and the answer is generally the same:

The more bitcoins that are lost - the better - as you are making the rest of our bitcoins more valuable!

Hahaaa. Straight to the point.

Maple

newbie

Activity: 14

Merit: 0

Yeh losing btc is good for us Tongue

elephantas1

sr. member

Activity: 378

Merit: 250

ok

Gator-hex

hero member

Activity: 490

Merit: 500

Don't worry about, it each 1 Bitcoin = 100,000,000 Satoshis = 2.1 Quadrillion total Satoshi coins!

If you lose yours it just helps mine gain in value. Wink

Martijnvdc

sr. member

Activity: 322

Merit: 250

There will only be a limited amount of bitcoins that can be mined. So lost bitcoins simply means it'll be even more scarce, meaning the value increases.

dunisq

newbie

Activity: 10

Merit: 0

Oh i should've searched the forum first.
Thanks for the answer.

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

This question gets asked at least once per month and the answer is generally the same:

The more bitcoins that are lost - the better - as you are making the rest of our bitcoins more valuable!

dunisq

newbie

Activity: 10

Merit: 0

I was wondering about lost wallets. Currently there are almost 12M bitcoins in circulation. I think already large amounts of bitcoins are lost forever because of lost passwords for wallets, hard drive crashes and lack of backups or just simply deleted wallet.dat files. This number is inevitably growing.

What do you think how many of them is actually lost? Are there any plans by the community to improve the protocols to avoid these situations? I think most of the people who start using bitcoins don't know how important is to back up your wallet.

Topic: Lost bitcoins (Read 443 times)