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xBDT Script

Lost bitcoin and demand of circulated bitcoin

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Firstly, from the comment you quoted, I meant to say 2140 not 2021. 

2 hours ago, Brushless4500KV said:

When bitcoins are lost, this number will go down and I think at this point, miners are allowed to mine coins to reach 21 millions again

When the total amount of bitcoin to be ever produced is reached, there will be no case of any mining of new ones again. It is all preplanned by Satoshi Nakamoto. Mining of new blocks is stopped and miners are only rewarded by the transaction fee of network users.


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9 minutes ago, Raqeebzy said:

Firstly, from the comment you quoted, I meant to say 2140 not 2021. 

When the total amount of bitcoin to be ever produced is reached, there will be no case of any mining of new ones again. It is all preplanned by Satoshi Nakamoto. Mining of new blocks is stopped and miners are only rewarded by the transaction fee of network users.

If this is what included inside bitcoin's protocol, maybe we should expect bad things to happen for bitcoin in the future. Some Bitcoins are lost every year and no one can stop it because there are always people who lose their keys. If this thing continues, the value of bitcoin may explode at first because scarcity will increase. But it may reach a point when the number of bitcoins in circulation will be so low that bitcoin may become useless for making transactions. This will be a disaster and can end the life of bitcoin. Therefore, the destiny of bitcoin depends on how well it is taken care of by its owners.

Edited by Brushless4500KV

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One of the talks is on how are list bitcoin ever going to be realised and find, as basically if there was a system, which could retrieve this, then it could be good but that would mean that bitcoin is that centralized if there was a system of such, so the demand of bitcoin will always be high, but the list coins might never see day light as the bitcoin network is decentralized

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I think that the price of bitcoin will rise one day even without people wasting the quantities of bitcoin they own because it is important in the functioning of the new world if it happens, but of course we must hold it.

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Perhaps in the future, more Bitcoin currencies will be lost, unfortunately, because many members lose their passwords, so we must keep this information in a safe place so that we do not lose any amount of Bitcoin because storing this currency is very profitable.

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The future of Bitcoin is very good and its price will go up So that we don't have to regret it later we have to keep Bitcoin in a safe place where we can forget the password and recover it. Demand for this specialty has grown significantly as a result of recent corporate scandals If we hold on we will gain a lot.

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I surprised that you said four millions btc are lost are you have proof of it or totally said with your own little bit information about crypto market. I don't find any this information from Google that four millions news are totally fake. So we know limited supply means good for us. 

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On 10/27/2019 at 1:04 PM, xBDT Script said:

We all know that there will be only 21m bitcoin and that is it. There are no more once all of them will be mined. Now question is - will we have exactly 21m bitcoin in circulation? Simple commonsense answer is that a big "No".

There are over 4m bitcoin already has been lost and each day we see people are looking for ways of how to recover their lost fund. I in face lost one of my wallet seed even not long ago. Well I know this are not even number considering the millions of lost bitcoin.

We can assume that the million bitcoin satoshi has - lost

They guy who lost his hard drive and could not find - lost

These are some I can remember now but the list is really long and if you have something in mind then please comment of the post.

Anyway this was not the goal of this topic. The goal is - When we lose any bitcoin I mean when we are losing our private key then it actually increase the value of the bitcoin we have in circulation. Imagine simple supply and demand chart:

O7vr0Ji.jpg

Less means more demand and more demand means the value increase. And if we compare the value with the current fiat system then we will be millionaires some day if not billionaires. Just hold few bitcoins!

Crypto transactions arer anonymous and we can't cancel or claim return if we do any wrong transactions. If the wallet don't have any owner then  we will lost the assets forever. And also we can't generate more assets.


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There is 21m bitcoin kept for circulation but each bitcoin doesn't circulate to every users each bitcoins are then divided into its sub parts because the price of a single bitcoin is too high and a single user can't easily afford it so it has been divided into very small parts which can be easily accessible for the users.

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On 10/27/2019 at 3:04 PM, xBDT Script said:

We all know that there will be only 21m bitcoin and that is it. There are no more once all of them will be mined. Now question is - will we have exactly 21m bitcoin in circulation? Simple commonsense answer is that a big "No".

There are over 4m bitcoin already has been lost and each day we see people are looking for ways of how to recover their lost fund. I in face lost one of my wallet seed even not long ago. Well I know this are not even number considering the millions of lost bitcoin.

We can assume that the million bitcoin satoshi has - lost

They guy who lost his hard drive and could not find - lost

These are some I can remember now but the list is really long and if you have something in mind then please comment of the post.

Anyway this was not the goal of this topic. The goal is - When we lose any bitcoin I mean when we are losing our private key then it actually increase the value of the bitcoin we have in circulation. Imagine simple supply and demand chart:

O7vr0Ji.jpg

Less means more demand and more demand means the value increase. And if we compare the value with the current fiat system then we will be millionaires some day if not billionaires. Just hold few bitcoins!

There are still lost Bitcoins somewhere and I think that it is waste that they are loss because it can be valuable if it Is created before. I think that people need to understand the concept of supply and demand so that they can understand the value of cryptocurrencies here and how does that affect the price of cryptocurrency 

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There may be a lot of different events, and it seems to me that if bitcoin was fully mined, then it would have a definitely high value. Speaking of losing currency, I think with the advent of a quantum computer, you can somehow restore your account, or hack the entire system, no more!

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The total supply of Bitcoin is 21 million and now we are reached at 18 millions bitcoin its mean that we have small time to invest on this crypto king before going to highest price that ever seen in our life i think after the total mined bitcoins the price goes to 100x 

Reference = https://www.coindesk.com/with-18-million-bitcoins-mined-how-hard-is-that-21-million-limit

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Big amounts of Bitcoins are already lost because holders have lost their private key. Lost private keys can not be recovered so lost Bitcoins are out of circulation forever. 

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The loss of the private keys of the wallet and the loss of Bitcoin will not be a person's gain, it is true that it will reduce the quantity offered for trading, but at the same time it will cause great harm to the owner, I hope that no one will lose what he owns of Bitcoin.

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Your diagram is correct. The less the quantity the higher the price will be. This is a fixed asset and we should have the maximum of it at 21 million. So anything lost means that the diagram moves to the higher price without demand changed.

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There are millions of bitcoins lost so far. Some say they are even four million Bitcoin that have been lost and this makes price of the rest higher. Satoshi bitcoins might also be lost as they were not moved for more than ten years even when price is above 10k.

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Lost bitcoins are a contribution to the price of the remaining. This was how Satoshi viewed this and lately the lost Bitcoin are only a few each year because people understand the value of their assets unlike in the beginning when nobody was backing up or storing the private keys and millions are lost.

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Bitcoins will keep getting lost. I've read about stolen bitcoins but this is different as lost means nobody has access to them and can't move them at all. The lost bitcoins are already priced in though, what is not is the future demand. We had demand lately from grayscale and institutions that bought.

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On 10/27/2019 at 9:04 AM, xBDT Script said:

O7vr0Ji.jpg

This is easy to understand if you have studied the basic economics we learn at school. This chart is helping to understand but needs another line that will be S2=supply 2 that will be on the left of the supply line (blue). With a second line up and to the left you see that price equilibrium is higher.

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Alot of bitcoin has been lost ranging from millions of dollars, have always wondered how this lost cryptocurrency can be recovered amor how it can be regenerated or mined again. It's sad though and really alarming. I hope they so something about the lost bitcoin and recover it.

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21 million bitcoin will obviously be the mark on the circulating bitcoin but not all will actually be in movements base on transaction as basically the circulating bitcoins are those which have already being mined as the remaining are the unmined bitcoin still to be mined

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As it means the lower the volume it will be more valuable because the bitcoin is one of the expensive cryptocurrency and the value will go more and more in the coming days because they are recognized by everyone in the world and every one wants to use that payment system. 

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There are limit of bitcoin to be circulating in crypto market, and losing bitcoin is really reducing the circulation that the statistics is increasing which after some period if time demand will be more than what to supply and the prices will rice more in the market. 

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You are right then complete of the bitcoins from the maximum supply will be mined by people then it's demand is going to increase day by day and it would not be possible to bring more bitcoins into supply. This will immensely increase the price of Bitcoin against local currencies.

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One of the ideas that I usually support is to save bitcoins as long as this does not affect finances in general, however it seems to me that what you propose is very interesting, every day the number of fractions that are lost increases, I entered hacks to exchanges or to individuals and the loss of data related to wallets, I estimate that by 2050 about 7 million coins will easily have been lost.

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