Old wallet with Bitcoin that nobody know - page 2.

Wesimon

sr. member

Activity: 406

Merit: 250

https://gexcrypto.io

Quote from: MasterChef11 on May 07, 2017, 08:02:47 AM

Imagine to yourself how many wallet with astronomic sums of bitcoin people lost or lost because they didnt give a fuck when bitcoin was tiny.
and those wallets..will never get acceesable

I prefer to imagine the price of bitcoin to reach 100K USD/BTC rather than those forever lost wallets with btc since it would greatly waste my time doing so. However, I thank them because they add scarcity for bitcoin. Grin

Quote from: dothebeats on May 07, 2017, 10:33:56 AM

Satoshi once said that we should be thankful for the lost coins since it just adds up to the scarcity of bitcoin which makes it more valuable compared to what it is when we have a complete 21 million of coins. Basics of economics, supply and demand: the less supply there is, theoretically it can't suffice the demand which makes it more valuable.

If that would be the case, then let's dump a portion of our btc so that we can increase the value of the remaining btc in our possession. Or even better, I would rather thank people who would give me their btc instead of losing them and be gone forever.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Satoshi once said that we should be thankful for the lost coins since it just adds up to the scarcity of bitcoin which makes it more valuable compared to what it is when we have a complete 21 million of coins. Basics of economics, supply and demand: the less supply there is, theoretically it can't suffice the demand which makes it more valuable.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: MasterChef11 on May 07, 2017, 08:02:47 AM

Imagine to yourself how many wallet with astronomic sums of bitcoin people lost or lost because they didnt give a fuck when bitcoin was tiny.
and those wallets..will never get acceesable

I read somewhere that the estimated coin lost is about 30-40%, but there is not mean to know the exact number. However, this will not affect how bitcoin works, since many people are actually holding the coins until moon.

ciobanuionut1982

newbie

Activity: 28

Merit: 0

what is this?you want found btc adress lost it ?

HabBear

hero member

Activity: 1106

Merit: 638

It also raises the amount of minimum demand that will always exist, since those coins can never be spent.

A lot of us have either been in the position to have lost coins in this way or know someone who has. It sucks. The story of a friend with an old computer once used to mine bitcoin that still has a balance but the private keys have been lost, etc. It's awful!

Qartada

hero member

Activity: 546

Merit: 500

Quote from: BitcoinHodler on May 07, 2017, 08:06:05 AM

so what is your point exactly?
the topic of "how many bitcoins are lost" have been discussed multiple times. and that only means there is going to be even less bitcoin that is supposed to be. and the more they lose the more scarce bitcoin is going to be for us BitcoinHodlers.

lower supply + increasing demand = price to the moon

More importantly, as the supply decreases and the price rises, the amount of Bitcoin that people carelessly lose decreases as:

-They're holding less because the value is higher
-They're more careful with large amounts because the value is higher

Since Bitcoin is very divisible, it would never be a problem, except for the people who have lost thousands of Bitcoin already.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

so what is your point exactly?
the topic of "how many bitcoins are lost" have been discussed multiple times. and that only means there is going to be even less bitcoin that is supposed to be. and the more they lose the more scarce bitcoin is going to be for us BitcoinHodlers.

lower supply + increasing demand = price to the moon

MasterChef11

member

Activity: 86

Merit: 10

Imagine to yourself how many wallet with astronomic sums of bitcoin people lost or lost because they didnt give a fuck when bitcoin was tiny.
and those wallets..will never get acceesable

Topic: Old wallet with Bitcoin that nobody know - page 2. (Read 1456 times)