theoretically there are 21 mil btcs, in reality, many bitcoins are lost - page 2.

Marbit

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Quote from: haploid23 on July 19, 2014, 01:15:01 AM

There are several threads on this already. There is a main thread that has confirmed some of the lost btc. Several cases had a hefty amount lost.

Do you have a link to this thread? How could this be "confirmed" without someone signing a transaction from the inaccessible address?! Tongue

I would be curious to know how much is "lost" to ponder how it affects supply in the case of price discovery.

jc01480

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Nope..

Theoretically there are 0-fucks given.

Connor936

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Quote from: devphp on July 19, 2014, 01:48:24 AM

There are some estimates that between 500 000 - 1 000 000 bitcoins can be considered lost.
However, Bitcoin is still in double-digit yearly inflation, adding 3600 new Bitcoins every day to the supply, can't call it deflationary.

It's safe to assume that from now and into the future the number of lost Bitcoins will not increase very much, because in the past people didn't think much of Bitcoins and formatted drives without thinking twice.
So, let's assume 1 mln of Bitcoins will be lost out of 21 mln, that leaves 20 mln. useable max cap.

Advances in technology over time may potentially make it easier to recover some of these lost bitcoin.

As long as you have the physical hard drive that the wallet/private key was/is stored on then you potentially can recover the lost bitcoin. If you have thrown away the hard drive or the hard drive is otherwise destroyed then the bitcoin would likely be lost forever.

mkc

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Quote from: devphp on July 19, 2014, 01:48:24 AM

It's safe to assume that from now and into the future the number of lost Bitcoins will not increase very much, because in the past people didn't think much of Bitcoins and formatted drives without thinking twice.

I agree with this very much. LOL

devphp

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There are some estimates that between 500 000 - 1 000 000 bitcoins can be considered lost.
However, Bitcoin is still in double-digit yearly inflation, adding 3600 new Bitcoins every day to the supply, can't call it deflationary.

It's safe to assume that from now and into the future the number of lost Bitcoins will not increase very much, because in the past people didn't think much of Bitcoins and formatted drives without thinking twice.
So, let's assume 1 mln of Bitcoins will be lost out of 21 mln, that leaves 20 mln. useable max cap.

Tenarlty

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MINTER

How bitcoins can be lost? I mean if people who have some are lost, dead, or just without an Internet it doesn't mean that a lot of bitcoins are unavailable - don't forget that bitcoin system have a commission mechanism!

haploid23

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There are several threads on this already. There is a main thread that has confirmed some of the lost btc. Several cases had a hefty amount lost.

mkc

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I mean, many bitcoins exist in block chain, but nobody in the world knows their private key. They are in a unspendable state. Anyone has a guess how many these coins are?
From economy point of view, a healthy currency should grow its supply at the small rate, to reflect more human output, and not inflate itself. Bitcoin is a deflationary currency, and the rate of deflation probably greater than we think.

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