one question tickling my mind - page 5.

Yakamoto

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Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

All Bitcoins that are present on the blockchain right now, regardless of their age (meaning something close to being the only coins outside of Satoshi's from the infant days of the network) are valid for using as part of a transaction. If someone has 1m Bitcoin in a wallet from back in 2010, he can still technically sell them and become an insanely rich man. All he has to do is not crash the market in any obscene way.

Oo ako to

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Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

Yes. I have never heard that bitcoin has a validity date like other fiat currencies. If you need proof, ask someone here in the forum i know they have kept one.

jaysabi

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Quote from: genny2kuk on April 11, 2017, 11:23:01 AM

Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

All bitcoin remains valid as long as owner retains keys to access them.

This thread was dead for over two years and then was resurrected out of nowhere by this comment, but why??? Did you just randomly happen across this thread and decide to post to it regardless of the date? This thing must have been buried deep in the middle of a bunch of similarly dead threads. This is so random.

n0ne

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Why it doesn't have value. That's what thw goodness of bitcoin than other physical currencies. We doesn't need to depend on a bank for our needs. Just can hold our bitcoin into the wallet, it grows in value based on the price increase happening with bitcoin. If you save 50,000 bitcoin in 2011 and now of you look it will be 50,000 bitcoin. The value changes when you view in the form of USD.

milewilda

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This is already a 2 year old thread and now being bumped again and expected answers would repeat furthermore and i think op already know the answer on this one.

Bitcoin would always be valid as long you hold the private keys of the wallet and you can anytime sync it or access once again those bitcoin been stored for a long time.

xuan87

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Yes it will still be valid, there are no expiration date for bitcoin as long as the person still remember the private key and got access to that coin, and that person will be very rich now and can buy a lot of thing that he wanted and can become inspiration for other crypto currency Investor

megynacuna

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Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

Of course yes so long as you have your private keys to spend them it doesn't matter how long you've kept them so long as the exchanges continue to list it as valuable.

pearlmen

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Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

I have a very good reason to believe that those people who are really ruling the world of bitcoin and are able too decide the trend in which bitcoin will go as a result of prices, would have held that quantity or volume of btc as at those time you are referring to and that is why they remain a beacon today. So, bitcoin is forever valid.

Jemzx00

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Quote from: Netpyder on March 06, 2015, 08:42:44 PM

Ah i wish i had my old wallet :/

collected 200k i think. dnt even know where its lost.. like many people

Wow I never thought bitcoin was so easy to get from those times. But as far as I've read, not only you lost your old wallet. A lot of people lost theirs.

Quote from: Tsquared on March 06, 2015, 10:03:39 PM

I wonder how many bitcoins have just been lost because of hard drive crashes or lost keys or passwords.

The answer is a lot, men. Just imagine each persons who have been using bitcoin before has 100 each. If only bitcoins has been popular before then maybe the price would easily go up.

Quote from: nambich on March 27, 2015, 03:31:53 PM

Bitcoins don't lose validity as long as you keep the private keys safe.
But it is quite possible that some of the huge bitcoin stashes from early mining are inaccessible due to lost wallets - people did not be particularly careful with their wallets when bitcoins were worth basically nothing.

Agreed, but most lost wallets/ private keys are due to computer crashing and corrupted files. Most people didn't take care of their bitcoins before because they didn't even know that bitcoin would become a hit.

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Quote from: Netpyder on March 05, 2015, 06:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

All bitcoin remains valid as long as owner retains keys to access them.

nambich

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Bitcoins don't lose validity as long as you keep the private keys safe.
But it is quite possible that some of the huge bitcoin stashes from early mining are inaccessible due to lost wallets - people did not be particularly careful with their wallets when bitcoins were worth basically nothing.

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Quote from: countryfree on March 06, 2015, 02:29:44 PM

Quote from: Netpyder on March 05, 2015, 06:36:51 AM

but the owners need to be contacted by any means possible. not to ask them but to inject them again in the bitcoin economy..
one day when no bitcoins will be mined anymore we will need every single bitcoins to get everything back to a cycle economy..

No, my friend. It doesn't make any difference. There could be 21 or 11 or 31 million BTC, and nothing would change. What matters is that the supply is limited, and that we know what the limit is. Besides that, total amount of BTC in circulation is irrelevant.

If anything, the increase in bitcoins in circulation would bring the price down. Grin

Tsquared

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I wonder how many bitcoins have just been lost because of hard drive crashes or lost keys or passwords.

specgamer

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I love bitcoins.

Yes of course, even it has been 4 years, bitcoins always stay valid to the coin holder. If he had kept that much until now, he would've been a millionaire.

Netpyder

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Ah i wish i had my old wallet :/

collected 200k i think. dnt even know where its lost.. like many people

okthen

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I hope OP is asking this hypothetical question about himself.
And if that's the case, buy us some beer! Grin

maku

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Quote from: countryfree on March 06, 2015, 02:29:44 PM

Quote from: Netpyder on March 05, 2015, 06:36:51 AM

but the owners need to be contacted by any means possible. not to ask them but to inject them again in the bitcoin economy..
one day when no bitcoins will be mined anymore we will need every single bitcoins to get everything back to a cycle economy..

No, my friend. It doesn't make any difference. There could be 21 or 11 or 31 million BTC, and nothing would change. What matters is that the supply is limited, and that we know what the limit is. Besides that, total amount of BTC in circulation is irrelevant.

It is relevant from psychological point of view. As people are highly illogical creatures. Amount of bitcoin flowing through system can influence its price greatly as people will perceive in the future that every bitcoin was mined and its supply indeed limited. I would assume a huge price rise near the end of mining bitcoin.

Possum577

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Oh man, no, they wouldn't be...in fact I can take whatever coins you have from 2011 off your hands...please see my address in my profile!

Hahaha, what a great question, please tell me you have 50,000 bitcoins from 2011!

arvindr

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Quote from: countryfree on March 06, 2015, 02:29:44 PM

Quote from: Netpyder on March 05, 2015, 06:36:51 AM

but the owners need to be contacted by any means possible. not to ask them but to inject them again in the bitcoin economy..
one day when no bitcoins will be mined anymore we will need every single bitcoins to get everything back to a cycle economy..

No, my friend. It doesn't make any difference. There could be 21 or 11 or 31 million BTC, and nothing would change. What matters is that the supply is limited, and that we know what the limit is. Besides that, total amount of BTC in circulation is irrelevant.

Is there a possible way to know whats the total amount that is in circulation, and waht amount hasn't moved much in the last 2-3 years ?

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Quote from: Netpyder on March 05, 2015, 06:36:51 AM

but the owners need to be contacted by any means possible. not to ask them but to inject them again in the bitcoin economy..
one day when no bitcoins will be mined anymore we will need every single bitcoins to get everything back to a cycle economy..

No, my friend. It doesn't make any difference. There could be 21 or 11 or 31 million BTC, and nothing would change. What matters is that the supply is limited, and that we know what the limit is. Besides that, total amount of BTC in circulation is irrelevant.

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