What will happen to 'lost' coins? - page 4.

Ranly123

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Quote from: Blong17 on April 26, 2018, 11:50:25 AM

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's a loss for those who forgot their wallets and let there coins float. It will only make the supply scars and the price will rise. So to avoid lssing our private keys, we should be serious on this business and keep it in a safe storage like offline wallets.

lizardbtc

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Quote from: Hanvis on April 26, 2018, 03:43:19 PM

They will be lost, and the price over time for a particular coin will grow, wallets, and keys now irretrievably lost. They will just exist but access to them and no one will ever get.

Depends on the coin really, most of coins will raise in price, if we don't get some burst that will kill the ussless onese, and some of them have "died out" already.

vaso11

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Quote from: Blong17 on April 26, 2018, 11:50:25 AM

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?

They just will remain on the wallet, they will be considered lost because nobody will ever pick them up and sell them

GrandBcn

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That's why you need to have a list of all the logins and passwords. I often think about this and store all kinds of passwords in different secret places. Here, it's not just bitcoin, it's passwords from gadgets, apple, card, registration, and much more. On the one hand, it's safe to keep it in your personal memory. One, if something bad happens, I do not know what my family will do.
And the coins will be lost forever.

Angel0

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It will be lost forever untill the owner finally found their private key, the wallet will be counted as one when the counter for the holder published the holder quantity count.

The coin will be on the wallet forever, and no one can take it.

EleGiggle

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a lot of people have lost their Bitcoins in this way, so yes they will just be stuck there forever

Hanvis

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They will be lost, and the price over time for a particular coin will grow, wallets, and keys now irretrievably lost. They will just exist but access to them and no one will ever get.

thinkpad99

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Unfortunately, there are already many assets that will never be paid, maybe someone will come up with this method, but it can be difficult and impossible

prayogi

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Quote from: Blong17 on April 26, 2018, 11:50:25 AM

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?

I think so because I'm sure the wallet they use has security guarantees so only the users can open the wallet and of course if no one opens and sells the coin, the coin will forever be in the wallet

okala

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Definitely those lost coins are going to remain in blockchain technology for ever and no one will be able to access them except those that can find the private keys. I had about many people that have invested into bitcoin and as at now did not know they password or private keys, so they could not access there account.

butka

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Speaking specifically about Bitcoin, I found this article (linked below) claiming that nearly 4 million bitcoins are already very likely to have been lost:

Quote

According to new research from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, which are today worth around $8,500 each, are lost.

Source: http://fortune.com/2017/11/25/lost-bitcoins/

I don't know how much of this makes sense, to me the number is simply too high. But, who knows. Another point being made in the linked article is that people are going to be much more careful when sending bitcoins in the future, now that the value of this crypto-currency has been firmly established.

lx001

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Yes, they will be lost forever, everyone can see them but nobody can touch them. There are still loads of people who are not active on this forum for several years now, their airdropped NEM coins for example are worth $1 million now and they do not even know that. Also I doubt they have saved their private keys because loads of people did not take this seriously at that time. I know that I had some wallets back in 2014 but I do not remember both wallet addresses and private keys.

Blong17

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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?

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