Topic: What will happen to 'lost' coins? - page 2. (Read 445 times)
Unfortunately the lost coins will remain in the block chain, it is such a pity. This is why we have to keep our private keys in a safe price to avoid such situations.
I`m pretty sure they have some sort of system, that let those coin “free” if the account or wallet haven`t been accessed in some period of time, let`s say 4-5 years. If there is no such function, than the coin won`t probably survive as long as to become profitable.
I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
maybe for the lost coin, it's impossible because now it's the person holding altcoin and lots of people investing in Altcoin because now it's altcoin in recovering and so we can hold it and wait until the altcoin price and the market go back
I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
Yes there accounts will be lost forever ; the blockchain lets us know that we should be responsible for our finance so taking care of your private key is so important . Unfortunately like you point out, many people forget their keys and lose their fortune
The first project to benefit this theme will succeed and without shadow of doubt, a project that will commit to recover its losses untold. There are many investors who lose their wallets full of Bitcoin and major currencies and discovering a gateway to Blockchain for the rescue, it would be necessary and considered by all. Nowadays lost the private keys what we have left is the tears.
they will remain stored. No one will be able to open it so for the transaction also nothing could. a coin would remain in place and there will be no taking. quite unfortunate if that kind of thing can happen.
This is blockchain feature, you can look at your assets, admire, but if you don't have a private key, then you can do nothing with them. No one to restore access to your wallet, in a decentralized world, everyone should take responsibility for their assets , as usual money.
That's why you need to have a list of all the logins and passwords. I take it seriously and keep all kinds of passwords in different secret places. It's not just about crypto currency, it's passwords from gadgets, apple, maps, registrations and much more. On the one hand, it is safe to store it in your personal memory. But, if something bad happens, I do not know what my family will do. And the coins will be lost forever.
I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
It wont going to anywhere,but it is going to float in the blockchain forever,as long a theres no private keys you wont get the funds from your wallet if you forget or lose your keys,not unless the quantum computer exist and it could break your wallet's keys in just few minutes but if that happens cryptocurrencies are going to be worthless.
wasting time because it can not be put to good use by the owner, unless there is a pause in the password and password of the wallet, ideally it will be safe if nobody tries to open it. should have a small wallet but privacy and security stay awake.
I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
Losing your savings in bitcoins is easy enough, even without an attempt on them by scammers and hackers. The crypto owners themselves cope with this task. First of all, this is due to the fact that they do not know a reliable way to protect their wallets.
I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
It wont going to anywhere,but it is going to float in the blockchain forever,as long a theres no private keys you wont get the funds from your wallet if you forget or lose your keys,not unless the quantum computer exist and it could break your wallet's keys in just few minutes but if that happens cryptocurrencies are going to be worthless. I meet loads of people who have collected coins everywhere. They have 20 different types of wallets with a little bit of value. It's due to happen that people will loose their private keys or forget that they even have an account. Over time that value could accumulate pretty big. What will happen to these 'lost' coins? Will these stay on the Blockchain forever, accessible to no one anymore?
If those coins cant be accessed anymore due to lost of private keys or seeds then those coins would really just remain on the network but those are lost forever on the void.It is not dead but those coins are useless since no one would able to touch those coins anymore.This is why if we do have lots of coins on a specific wallet we should really be responsible on keeping out wallet informations like keys or seeds because these things are the most important.
These coins do not disappear anywhere. They can not be used if the wallet owner can not remember the password.
Using only a private key to control your wallet is a common feature of all cryptocurrencies. At the same time, this is a nightmare for those who are forgetful.
In the world of cryptocurrency.. Once lost, its lost forever!! that's why its annonymous...
My thought goes to those who have Bitcoin wallets with sh!t loads of BTC in them before they die and their family doesn't know sh!t about it!
My thought goes to those who have Bitcoin wallets with sh!t loads of BTC in them before they die and their family doesn't know sh!t about it!
I never asked this question, but it seems to me that coins that are not used in any way - eventually burn. Although I can not imagine how this happens.
This is a rather interesting question, which I also asked myself. I think that the coin will not be available..
Yes it is gone forever. It will stay on blockchain forever but no one can access it unless they will have their private key again or someone will have their private key. We hope in the future this problem will have solution.
Its already a solution like "lost key contract" and stuff like that (google for it) but people doesn't care and continue loosing their funds
Yes it is gone forever. It will stay on blockchain forever but no one can access it unless they will have their private key again or someone will have their private key. We hope in the future this problem will have solution.
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