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27 votes
Accepted

How does lost BTC affect the market in the long run?

The price of bitcoin is affected by demand and scarcity. Scarcity decreases as more bitcoin are mined (up until the 21 million bitcoin limit is reached---this is the maximum number that can ever be ...
Toby Hawkins's user avatar
11 votes

Curious about lost bitcoin

As the answer by @MeshCollider states, those BTC are lost forever, altough there is one more thing I believe is worth of consideration. Cryptanalysis never get worse, it always get better with time. ...
Hubert Jasieniecki's user avatar
9 votes

How does lost BTC affect the market in the long run?

Most websites offering online wallets store your bitcoins against their own private key (giving them control over them), and provide you with tools to spend the bitcoins. While you don't have the ...
Highly Irregular's user avatar
5 votes
Accepted

Does Bitcoin mining reward halving have documentation? Or is it just in the code?

This is not addressed in Bitcoin's Whitepaper, although Satoshi Nakamoto briefly mentions the decrease of the reward, but never explicitly talks about the amount of the reward. Satoshi speak about ...
leevancleef's user avatar
2 votes
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How do we know that Bitcoin supply is actually capped at 21 million?

The whitepaper doesn't mention any specific supply cap, and actually the distribution parameters it suggests are very different from the actual parameters implemented in Bitcoin: 6. Incentive By ...
Vojtěch Strnad's user avatar
2 votes

How does lost BTC affect the market in the long run?

The effect would be to make the remaining bitcoins worth more over time as the others remain unspent, as I understand it.
bmillar's user avatar
  • 21
2 votes

If bitcoin have a 21 milion limit...what happens with the lost bitcoins?

It is never possible to determine which bitcoins have been lost, and which are merely being held unused. In either case, it means they are effectively removed from the economy. This means that they ...
Jestin's user avatar
  • 8,812
1 vote

Curious about lost bitcoin

Yes, if he didn't have the private keys backed up anywhere else then indeed they are lost forever. You are correct that more and more bitcoin is lost over time because of things like this.
meshcollider's user avatar
  • 11.9k
1 vote
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Lost/forgotten/locked Bitcoins

What about all the coins that have been locked in wallets due to loss of keys, owners of wallets dying, etc...? There is no way someone can tell you the exact amount of "locked" bitcoins. Even after ...
k1rushqa's user avatar
  • 126
1 vote
Accepted

If I lose my wallet and private key does that effectively remove bitcoin from the market forever?

If you permanently loose your keys, the short answer is essentially yes. Your loss, a deflation, will cause the value Bitcoin being held by others to go up proportionately. With a 100% efficient ...
skaht's user avatar
  • 3,077

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