So while your idea sounds cool, it just won't work in practice. Keep that imagination wide, though, maybe one day you'll come up with something that actually does the trick.
Topic: Recovering Lost Bitcoins - page 2. (Read 337 times)
How do miners know a bitcoin is lost? Only the owner really knows, since they made the transactions. If every inactive wallet were marked as lost, that would be a mistake as many people just hold their bitcoins for the long term, and they're not lost at all.
So while your idea sounds cool, it just won't work in practice. Keep that imagination wide, though, maybe one day you'll come up with something that actually does the trick.
So while your idea sounds cool, it just won't work in practice. Keep that imagination wide, though, maybe one day you'll come up with something that actually does the trick.
So a lot of bitcoin has been lost due to incorrect wallet addresses and human errors..
I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user, but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
Lost bitcoins even as odd as it may sound are actually beneficial to the bitcoin network. The Bitcoin network has a supply cap of 21 million and what that basically means is the total or rather maximum number of bitcoins that can ever be mined is 21 million now lost bitcoins reduce the circulating amount but doesn't affect the supply cap. I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user, but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
Is basically just the simple economics of demand and supply lesser coins means they will have more value add more value means each coin is what more than if they were excess.
Lost bitcoins should have a way to be mined back into the market and Recovered..
One simple question. Why?
Is there a project about this already?? What is your opinion and do you think it's is possible
No. I dont think that will ever be possible. Technically, there are no "lost coins", there are only unspendable coins, but that is also debatable in most cases.
Assume that some fund hasn't been moved for years. How can you know that whether the owner has lost access to the fund or the owner has decided to hodl the fund?
Here is Bitcoin creator's opinion about lost bitcoins.
Some coins have been lost by creating OP-return outputs. Some coins were lost due to miners not claiming the block reward and there were also coins that were lost due to the coinbase transactions having the same hashes.
Here is Bitcoin creator's opinion about lost bitcoins.
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
No Bitcoin is lost on the network, only people lost the way to access due to many reasons.
I don't agree with OP, but there are coins that have been provably lost. Some coins have been lost by creating OP-return outputs. Some coins were lost due to miners not claiming the block reward and there were also coins that were lost due to the coinbase transactions having the same hashes.
Now this may not be possibly done by the careless user, but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
What if the coin is not lost but the address is dormant? Bitcoin transaction should not be reversible. It is just like if gold is lost. Protect your coins and protect your seed phrase. Lost bitcoins should have a way to be mined back into the market and Recovered..
If bitcoin is lost, the coin will become scarce. That will add up to the value of the remaining coins that are not lost.
No Bitcoin is lost on the network, only people lost the way to access due to many reasons.
Bitcoin was made in a way of trustless working model so how can you verify as a miner that this TX is due to human errors. And miners can't access the Bitcoin sent/received they only receive the block rewards and TX fee.
Let's put this in a way, you lost your physical wallet that has dollars now you want the exact amount of dollars to be printed again by the central bank for your carelessness.
So a lot of bitcoin has been lost due to incorrect wallet addresses and human errors..
I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user, but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
I however think that at this point of technological advancement, there should be a way to recover lost bitcoins. Not just bitcoins but other cryptocurrencies too. Now this may not be possibly done by the careless user, but it could be found by miners.
Lost bitcoins should have a way to be mined back into the market and Recovered..
Is there a project about this already?? What is your opinion and do you think it's is possible
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