Kakashi2020 Posted May 30, 2018 Share Posted May 30, 2018 Whenever someone loses a wallet, what happens to the Bitcoin inside it, since without a key it can't be used. Are there methods to recover it? Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/ Share on other sites More sharing options...
Henrywrites Posted May 31, 2018 Share Posted May 31, 2018 There are no method to recover lost bitcoins and that is the reason many are being warned to ensure that they don't joke with their password to the wallet. I have seen some traders lose huge sums of Bitcoin as a result of this and nothing was done on the matter. Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/#findComment-919 Share on other sites More sharing options...
Marako0406 Posted June 26, 2018 Share Posted June 26, 2018 Every wallet should be carefully guarded if there's a huge value in it as so many scammers and hackers out there. 2fa is a great way to protect it i think. Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/#findComment-1463 Share on other sites More sharing options...
EfficientNinja Posted June 29, 2018 Share Posted June 29, 2018 I guess there aren't any ways to recover a lost Bitcoin wallet. The Bitcoins that are lost will never be recovered again because the owner failed to secure them. Maybe we could contact the website or the company of the software or hardware wallet provider. Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/#findComment-1521 Share on other sites More sharing options...
CARLOSP1 Posted July 3, 2018 Share Posted July 3, 2018 Just as gold bars may be lost or paper money may be lost, bitcoins may disappear from the internet forever. When all 21 million bitcoins are mined by the year 2140, the actual value available for exchange or expense will be significantly lower. According to new research from Chainalysis, a digital forensics firm that studies the blockchain of bitcoin, 3.79 million bitcoins have already been gone in a high estimate and 2.78 million in a low estimate. These numbers imply that 17% to 23% of existing bitcoins, which today are worth about $ 6,587.24 each, are lost. Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/#findComment-1596 Share on other sites More sharing options...
Kakashi2020 Posted November 5, 2018 Author Share Posted November 5, 2018 On 7/4/2018 at 1:07 AM, CARLOSP1 said: Just as gold bars may be lost or paper money may be lost, bitcoins may disappear from the internet forever. When all 21 million bitcoins are mined by the year 2140, the actual value available for exchange or expense will be significantly lower. According to new research from Chainalysis, a digital forensics firm that studies the blockchain of bitcoin, 3.79 million bitcoins have already been gone in a high estimate and 2.78 million in a low estimate. These numbers imply that 17% to 23% of existing bitcoins, which today are worth about $ 6,587.24 each, are lost. They should made said lost Bitcoins recoverable if not lost Bitcoins should be added back to the block chain so that there won't be any wasted coins. Quote Link to comment https://slingbank.com/forums/topic/538-what-happens-to-lost-bitcoins/#findComment-2415 Share on other sites More sharing options...
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