Topic: where goes the lost bitcoins? (Read 539 times)
This gets under the list of lost coins. Those coins add up to the market volume and gets considered with the holding. So this won't affect the growth or price of the bitcoin. Its better to keep it in a secure manner and make use of it rather than making it go useless. Enhancing the security is the one that makes it usable.
Try to keep the wallet keys safe and secure. Always have the habit of regular backups.
P.S. The coins are never lost. Only access is lost.
P.S. The coins are never lost. Only access is lost.
Most Bitcoins lose their novice users through poor portfolio security and by using fake bugs. You must not be gullible, because there is a fraud on every corner.
Try to keep the wallet keys safe and secure. Always have the habit of regular backups.
P.S. The coins are never lost. Only access is lost.
P.S. The coins are never lost. Only access is lost.
this thread talk about lost coins, i want ask some question.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
The easiest is to always make offline backup of your passwords or phrases. Trusting anything online makes you prone to cyber attacks and the likes. By the way, if owning BTC makes you your bank, why do you want to give the key to your vault to someone else?
Whilst the coins are indeed lost and individually the person lost their coins but globally it bnefits everyone because it is the same as burning coins that destroyed coins will never come back and this reduc the maximum amount of coins in turn making them later. It all evens out eventually so it makes little impact but to the individual who lost that coins it makes a huge difference.
They gone, read an article about a guy in the U.K. Who
Threw out his laptop with his keys, worth millions sad but gone.
If only I could find that drive
: 
Threw out his laptop with his keys, worth millions sad but gone.
If only I could find that drive
: 
The lost bitcoins remain in the locker system forever, as long as it exists.
But maybe somebody will someday crack their wallet and they will go back into circulation
But maybe somebody will someday crack their wallet and they will go back into circulation
Yes a kind of super computer ...why not...
But why the lost BTC if it is not more work to crack the not lost BTC.
The lost bitcoins remain in the locker system forever, as long as it exists.
But maybe somebody will someday crack their wallet and they will go back into circulation
But maybe somebody will someday crack their wallet and they will go back into circulation
Yes a kind of super computer ...why not...
But why the lost BTC if it is not more work to crack the not lost BTC.
In my pocket
Haha if that is true you get like 5% of the earliest bought coins so you are a milionare right now!
The lost bitcoins remain in the locker system forever, as long as it exists.
But maybe somebody will someday crack their wallet and they will go back into circulation
But maybe somebody will someday crack their wallet and they will go back into circulation
this thread talk about lost coins, i want ask some question.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
1. By keeping your private keys / seed ( if electrum ) secure.
2. you could by a trezor/ nano / any other hardware wallet.
Other then that it would be smart to keep your system updated if you use electrum / core, so virus scanners etcetera.
In my pocket
this thread talk about lost coins, i want ask some question.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
1. how to secure our wallet address ?
2. is there any third party software or hardware to secure it ?
thanks i would like to hear from all senior here. because this will protect us from losing our coins.
When someone losts his bitcoin wallet he/she lost his bitcoins and never possible to get it but where goes it? or Can anyone get it or be benefited like traditional currency?
lost forever
lowers supply which increases the price of other Bitcoins When someone losts his bitcoin wallet he/she lost his bitcoins and never possible to get it but where goes it? or Can anyone get it or be benefited like traditional currency?
when you were lost your wallet bitcoin, of course all your bitcoin which include in your wallet is still exist but nobody can get it
Every lost Bitcoin reduces the number of Bitcoins in circulation. The scarcer it gets, the higher the value per Bitcoin. So in a way every Bitcoin owner benefits from this.
I don't think this is true, the impact I mean. For the lost supply to influence demand wouldn't the market need to be aware of it? And the market can never be aware of the lost supply.
Maybe it's the fact that the fraction of people who would have had those coins are no longer participating in the market as sellers that really influences that supply vs. demand equation.
Any economists out there care to comment?
Exactly, market is only aware of it through the supply/demand of the guy who lost Bitcoins. Considering he will not be able to sell the lost coins at some point, this reduces future supply and consequently increases the price. Also, he might want to purchase more coins, because he lost some, so that increases demand and again the price. So lost coins do not influence supply/demand by itself, the guy that lost them does.
gone forever. Important to note though they are never really lost. Only the access to them is lost because you've lost the private key
They go to never never land...gone, lost. That's one reason many think there are much less than the 21 million coin supply. Back when btc was cheap, people were much less careful with how they stored it. There are many stories of people who lost their keys, hard drives, whatever and now don't have their coins. I recommend the Ledger Nano S, if you want to be safe.
When someone losts his bitcoin wallet he/she lost his bitcoins and never possible to get it but where goes it? or Can anyone get it or be benefited like traditional currency?
They are just missed, you can't get something what was bought or own by somebody, so those bitcoins are just "staying" in his pocket. 
When someone losts his bitcoin wallet he/she lost his bitcoins and never possible to get it but where goes it? or Can anyone get it or be benefited like traditional currency?
Lost Bitcoins can not be retrieved. They will be forever lost. This, according to basic economical theories, will lead Bitcoin to increase its value over time (a.k.a. deflation).
The greatest thing about Bitcoin is that we all get to be our own bank. And the scariest thing about Bitcoin is that we all get to be our own bank.
I quote this. Being our own bank has many advantages, but it takes responsibilities as well. Keep in mind this, take care of your seeds, passwords, private keys and act just like you are a bank. Yes, a 'real' bank which should to have strong security measures to protect funds against thieves, incidents and loss.
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