The total Number of Dormant (lost) Bitcoin in the Ecosystem

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

Quote from: NeuroticFish on August 25, 2022, 04:26:20 PM

I've never seen the movie Santoshi and the Minions. Is it at the cinema now?

magnificent neuroticFish, don't make me laugh my ass out 😂😂

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No. This is crap.

Really crappy, I'm cut up!!!
So I keep wondering if OP read anything outside the copied post about the whole information? I believe he should have been able to decode fully what the post meant but he's saying a different thing and mixing up other falsified crap,what the heck!
This dude's looking at bitcoin like some sort of pigeons,locked away in a dungeon so someone has to save 'em, sounds funny right? Grin

South Park

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Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Santoshi produced 21 millions BTC, and out of these 21m of btc 17.18 minions bitcoin are stored in dormant wallet accounts and nobody can retrieve those account to free the bitcoins that are locked forever. That is were bitccoin became decentralized. As of August 2022 the number has increased and if 17.18 minions bitcoin are stored in lost or unused wallets then 90% of the bitcoins are stored in dormant accounts.

Even though we can not discuss this on public, we can just give some highlights. As for me if I may say, since the wallets are traced let Satoshi and his co workers unfreeze the accounts if it is possible because the number is increase month by month and year by year and be we know bitcoin will be scarce in the bitcoin space.

You really need to get your facts straight as there are simply too many mistakes in such a short post.

Satoshi created an ecosystem in which 21 millions coins will exist but not all of those coins have been mined yet.

No one knows how many of those addresses which have not presented activity for a long time belong to people which lost their coins and which holders are simply fine with letting their coins in those addresses, so we do not know how many coins are actually lost and there are only estimates.

Those coins are not frozen and to suggest that somehow those coins are put back in circulation is the same as basically asking for the code to be changed to allow people to rob others from their coins, would you like to lose access to your coins? I suppose you do not, so do not ask for this.

Also Satoshi himself suggested there was nothing to be done about lost coins and we should instead think of them as a small donation to the rest of the holders as it makes the rest of the coins in circulation slightly more valuable.

hosseinimr93

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Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Santoshi produced 21 millions BTC, and out of these 21m of btc 17.18 minions bitcoin are stored in dormant wallet accounts and nobody can retrieve those account to free the bitcoins that are locked forever. That is were bitccoin became decentralized.

This has nothing to do with bitcoin decentralization.
In brief, bitcoin is decentralized because there is no need to a third party for making a transaction and there are thousands of nodes distributed around the world that help the network.

NeuroticFish

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Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Santoshi produced 21 millions BTC, and out of these 21m of btc 17.18 minions bitcoin are stored in dormant wallet accounts and nobody can retrieve those account to free the bitcoins that are locked forever. That is were bitccoin became decentralized. As of August 2022 the number has increased and if 17.18 minions bitcoin are stored in lost or unused wallets then 90% of the bitcoins are stored in dormant accounts.

I've never seen the movie Santoshi and the Minions. Is it at the cinema now?
Coins traded on the collectibles section contain dormant bitcoins. People's paper wallets contain dormant bitcoins. I don't know if that 90% is accurate or not (I guess it depends on how much time of inactivity means dormant for the writer). So..?

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Even though we can not discuss this on public, we can just give some highlights. As for me if I may say, since the wallets are traced let Satoshi and his co workers unfreeze the accounts if it is possible because the number is increase month by month and year by year and be we know bitcoin will be scarce in the bitcoin space.

No. This is crap.
1. There's no such thing as "Satoshi and his co workers", you should read more before writing this kind of crap.
2. There's no such thing as unfreezing accounts (do you want to steal people's money??), again, you should read more before writing this kind of crap.

n0nce

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not your keys, not your coins!

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Santoshi

Who is santoshi?

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

produced 21 millions BTC

Nobody produced 21 millions BTC. We only have mined a little over 19 million today. And it is a world-wide distributed process, which happened over the last 13 years. Coins are 'produced' at a 6.25BTC/10 min rate.

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

and out of these 21m of btc 17.18 minions bitcoin are stored in dormant wallet accounts and nobody can retrieve those account to free the bitcoins that are locked forever.

Nobody knows that. No matter how long a coin doesn't move, it doesn't mean the access to those coins are lost. Imagine you have a bank account that you don't touch for 10 years, does this mean your funds on it are locked forever? Of course not.

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

That is were bitccoin became decentralized.

No, Bitcoin was decentralized from the very start. By design. You can read the whitepaper before making such claims.

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

Even though we can not discuss this on public, we can just give some highlights.

Of course we can discuss this in public; in fact, we're doing it right now.

Quote from: Mate2237 on August 25, 2022, 04:10:55 PM

As for me if I may say, since the wallets are traced let Satoshi and his co workers unfreeze the accounts if it is possible because the number is increase month by month and year by year and be we know bitcoin will be scarce in the bitcoin space.

Satoshi doesn't have 'co workers' and he actually left the project over 10 years ago. Furthermore, nobody - I repeat, nobody - has or should have the power to touch coins that haven't moved for a while.
Furthermore, Bitcoin is highly divisible. Even if 20 million coins were provably burnt, e.g. using OP_RETURN, the remaining 1 million would still suffice as we can split it into 100 million sub-units. If needed, they could also be further divided.

Mate2237

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Satoshi produced 21 millions BTC, and out of these 21m of btc 17.18 millions bitcoin are stored in dormant wallet accounts and nobody can retrieve those account to free the bitcoins that are locked forever. That is were bitccoin became decentralized. As of August 2022 the number has increased and if 17.18 minions bitcoin are stored in lost or unused wallets then 90% of the bitcoins are stored in dormant accounts.

https://finbold.com/dormant-bitcoin-addresses-now-hodl-largest-ever-amount-of-btc/

Even though we can not discuss this on public, we can just give some highlights. As for me if I may say, since the wallets are traced let Satoshi and his co workers unfreeze the accounts if it is possible because the number is increase month by month and year by year and be we know bitcoin will be scarce in the bitcoin space.

Topic: The total Number of Dormant (lost) Bitcoin in the Ecosystem (Read 173 times)