Lost bitcoins - page 4. | Bitcointalksearch.org

Stable090

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Some people invested in bitcoin when bitcoin price worth nothing, most of them those not believe bitcoin price will get to the price it is today, so they didn’t properly secure the bitcoin or should I say they didn’t properly secure their private key. If bitcoin lost is going to be recovered back, then it’s just small percentage that will be recovered back and it won’t really have any effect, also if bitcoin is recovered back and the person that lost the bitcoin those not sell it, if the person decide to keep on holding, then it’s not going to affect the bitcoin price, but if lots of bitcoin is recovered and everything is being sold, then it’s going to dump bitcoin price.

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

So if my theory is correct then we should be happy those Bitcoins were lost.

Maybe we should be happy but the truth is that there are some realistic that are so funny and seem bad but it's just the reality and the truth.
There have been several cades of people who already lost alot of their holdings and I guess what's mustbhave aided the price increasement of bitcoin and in cryptocurrency in general. There are the winners and the lossers because these are basically the two set of people we can find and in trading, when I first started, I've always wondered where the money paid for a win came from but as time went by, I realized it was from the losses for others that the winning payments of others are made .

hannahB4

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

For any situation one is in, we will have the benefitted one and the affected one. A person who lost his or her will never be happy it happened, but as for the Bitcoin network, it will be benefitted one as you said.

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

The effect of lost Bitcoin recovery is dependent on the ratio of the returning supply to circulation and the demand. If there is a heavy demand on the Bitcoin market then these returning Bitcoin supply won't have much effect on the market. But if Bitcoin is tanking and then a huge lost coins were recovered and immediately sold in the market, it is highly possible that the price of Bitcoin will be affected. I think the crucial thing about this situation is the level of demand and the incoming supply to the Bitcoin market.

MarjorieZimmermanGinger

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

When talking about lost bitcoins there is a possibility that it cannot be recovered because the habit of losing bitcoins is caused by carelessness and negligence of people in saving seeds or keys to bitcoin storage wallets. Why should people be happy when the bitcoin price drops? If in theory you mean a drop in bitcoin only at the time of purchase and wishing the price of bitcoin to go down it might still look normal, because generally people would try to take advantage of the drop to buy it, so the theory you mean is weak and unprovable.

The supply and demand process plays a much larger role and will remain in effect throughout its journey. When bitcoins are lost because access to wallets is no longer affordable, they can no longer be used forever by anyone. Therefore storing bitcoins in a secure wallet and securing the seeds and keys is also very important.

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

No one knows exactly how many bitcoins have been lost forever, every now and then there are thousands of bitcoins that suddenly move again after being inactive for a lot of years and usually it's not a problem for the price. I would only be worried if one day Satoshi's bitcoins will be on the move again...

Asuspawer09

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

I mean if you can recover all of the lost bitcoin it will not go to affect the market price of bitcoin unless you're going to sell all of it in the market, that is surely going to affect it since there is a huge amount of lost bitcoin as well as bitcoin as wasn't been moved for years if all of a sudden this huge Bitcoin was sold in the market it would easily affect the market price of Bitcoin and potential make the market price drop easily. It is surely kind of a good thing knowing that there is a huge amount of Bitcoin that is already lost and cannot be recovered by anyone, it is going to make the Bitcoin supply low and that is going to increase the demand in the end.

So this lost bitcoin is a good help on the supply of Bitcoin but at the same time could drop the market if a huge number of Bitcoin will be recovered, I remember reading something about the lost bitcoin that is own but Satoshi if it was recovered this day it is surely going to drop the market price of bitcoin a huge percentage.

SirJake

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I think it is hard to predict how the price would react if lost bitcoin was recovered. bitcoin price depends lot of calculations. we simply call it supply and demand. so I think if we recover lost bitcoins and sell them. it will affect the bitcoin price. because around 3 to 4 million bitcoins are unrecoverable. it is equal to USD 140 Billion. if this selling power comes to market no doubt it will surely affect the market.
https://originstamp.com/blog/how-many-bitcoins-have-been-lost/

Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

as your theory lost bitcoins are considered donations to the bitcoin network. I don't think so. I think you may have gotten the wrong info or missed something. lost bitcoins are unrecoverable and do not contribute to the bitcoin network.

Beparanf

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Recovering it will not affect the price of Bitcoin but selling it will. But ofcourse it depends on the amount of Bitcoin recovered that will be dump in the market to determine if this will gonna impact the price since Bitcoin liquidity is already huge compared before when exchaneg doesn’t have enough liquidity to absorb sell pressure on Bitcoin. There’s already company invested billion dollar on Bitcoin. Recovered Bitcoin is not a problem at all unless it’s the Bitcoin of Satoshi since it’s a huge chunk and it will make Bitcoin holders doubt Bitcoin since the founder already sold his holdings like what happened to LTC when Charlie Lee sold all of his asset.

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop

Well, recovering lost or forgotten coins is one thing but getting to sell them is another which could have a different impact on market price.

Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

because in theory it would affect the amount of Bitcoin in circulation which will lower it's price .

But it's not like they will be selling them immediately Huh

Besides this whole coins in circulation doesn't always mean crypto users are selling or buying all coins available at every given chance, some coins remain untouched but are still counted to be in circulation..so not much of a difference will be made unless they are selling 10,000 Bitcoins to have an instant impact.

Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Can not be a donation when access to them isn't available, besides some users have been lucky to remember or figure out the whereabouts of their private keys, so consider these to be dormant coins that can awaken at any time and not donations!

umbara ardian

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In some cases, the loss of bitcoin can benefit other bitcoin holders, but this is not an ideal way for the price of bitcoin to rise. The loss of bitcoin also doesn't have much of an impact on the price, as it only makes up a small percentage of the total supply. The price of Bitcoin is usually determined by factors such as circulation and market demand. Protecting and securing your personal bitcoins is very important to avoid unnecessary losses and keep your assets safe.

Z-tight

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Quote from: riantolie on July 10, 2023, 03:06:31 AM

Exactly. Also, the lower the total amount, the fewer people will be able to accumulate a whole bitcoin. It's kinda sad that Bitcoin is limited to 21 million, and it's absolutely impossible to recover lost coins.

It is not sad that it is impossible to recover lost BTC's, because it is impossible to be sure that certain BTC's are lost, if there was a way to recover lost BTC it'll destroy the system and people's coins in cold storage that hasn't moved for years will be said to be lost and stolen.

Satoshi designed BTC to be a scarce asset with a fixed supply, that's the uniqueness of BTC and the reason why there will always be demand for it, don't feel sad about that, buy it and don't sell it to others. Wink

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

If the lost coins were able to be recovered with methods other than finding or retrieving the seed phrase, then Bitcoin would die because that would mean that its possible to find out the seed phrase with other methods (which is currently thought to be an impossible thing to do). In such a case, anyone could get access to any wallet. There would be no point in buying Bitcoin and the people who already own Bitcoin would not be able to sell it. Their money would be lost forever.

But thats a hypothetical situation which is not possible. Even if one were to use a new generation of quantum computer, Bitcoin has safeguards against any known method of brute-forcing seed phrases or otherwise.

Not that it has not been tried, without success. Grin

Sim_card

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I don't think that there is any lost bitcoin somewhere or I would be happy if someone losses his bitcoin. When you can't access your wallet due to you forgetting your passphrase doesn't mean that your bitcoin is lost,your bitcoin will be lying idle in your wallet. Whenever,you have remembered your passphrase or password or you have seen your seedphrase,you will be able to do whatever that you like with your bitcoin. I guess that the only way that your bitcoin can get lost is when you send it to a wrong address and the receiver choose not to send it back to you. Lost bitcoin wouldn't affect Bitcoin price because Bitcoin price is being controlled by demand and the rate of adoption.

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Bitcoins that are truly lost can't be recovered, thats the beautiful and most important thing, so practically and technically, there is no way those bitcoins can be sold..

So let's say that, some how, some way, those bitcoin are recovered and added into circulation, it can only affect the price of bitcoin negatively if their owners decides to sell everything, which I don't think is also possible, some will sell and some will still hold for bigger price.

But again, the above is nothing but speculations, the real fact is that bitcoin that are truly lost are lost forever and can't be recovered by their owners under normal circumstances.

Wildwest

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If Bitcoin is lost due to hacking it will affect the price, but if Bitcoin is lost because we forgot the password when we store in a wallet then OTU will not affect the price, and the rise and fall of Bitcoin is caused by many things both because of negative news and other problems this greatly affects the value of Bitcoin, although the theory as you said is correct but no one is happy with losing their Bitcoin because it is a very valuable asset, If we want the price of Bitcoin to increase then wait there must be a time because the value of Bitcoin always changes.

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Quote from: m2017 on July 10, 2023, 10:37:32 AM

Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Should we be happy because someone lost bitcoin (even if it was in the distant past and at a low cost)? Where is your compassion?

I wouldn't call it donations to the bitcoin network, but rather forced and accidental "burning", as did with bnb, to reduce the number of tokens in circulation and increase demand. Also, there is a possibility that this "burning" may be temporary if ways are found in the future to gain access to lost wallets with these btc.

You should not fill your head with such rubbish, because at the moment these lost bitcoin can't affect the current price of it in any way (which I'm sure not very soon). After all, the fact is that bitcoin in the world can be only 21 million, which is quite a bit for the population of the entire planet.

It has no effect on bitcoin unless there is a sale. Only Bitcoin becomes more valuable. In the long run, nothing will change.

As the message I quoted states, I wouldn't look at it as a donation. When it comes to bitcoin lost by a person, it would not be right to look at it this way. I don't think it's possible to find lost wallets, but it would be nice if there was such a way.

There is a lot of knowledge to learn and a lot of room to improve in the crypto world. Don't preoccupy your mind with such things. Find other hobbies and improve yourself.

m2017

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Should we be happy because someone lost bitcoin (even if it was in the distant past and at a low cost)? Where is your compassion?

I wouldn't call it donations to the bitcoin network, but rather forced and accidental "burning", as did with bnb, to reduce the number of tokens in circulation and increase demand. Also, there is a possibility that this "burning" may be temporary if ways are found in the future to gain access to lost wallets with these btc.

You should not fill your head with such rubbish, because at the moment these lost bitcoin can't affect the current price of it in any way (which I'm sure not very soon). After all, the fact is that bitcoin in the world can be only 21 million, which is quite a bit for the population of the entire planet.

Odusko

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower its price. I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

The answer to that question is of the total bitcoin recovered is swapped into fiat at a low price that may affect the price of Bitcoin for a while but after then Bitcoin will move on and continue its market penetration because even Satoshi foresaw this and that is why he stated that bitcoin should be allowed to grow organically.
So it depends on what the recovered lost bitcoin which is 99% impossible is used for because if the holder of the recovered bitcoin decides to continue holding it then means there won't be any impact of that on the price of Bitcoin.

tread93

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Quote from: Mia Chloe on July 09, 2023, 02:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

It wound't affect the price unless they sold them, however this does make BTC even more rare! There is a story to all of these lost coins, if only Bitcoin could tell the story for us on which coins were lost how and by whom. We know for sure there is a couple million on a usb drive in a trash dump somewhere, lol poor guy.

Topic: Lost bitcoins - page 4. (Read 864 times)