Quote from: Tippaporn on April 05, 2013, 07:17:01 AM

Quote from: DirtyGoldMan on April 05, 2013, 05:48:51 AM

Quote from: NY11giants on April 05, 2013, 04:55:45 AM

Yeah... I have over 100K in a wallet that I cant get into. I can get into the wallet I transfered them OUT of and I see the 4 transactions where they were sent to the receiving wallet....

but I cant remember the new wallets password. When this all occurred, BTC was worth pennies.... there are 760 BTC in that damn wallet.

Sad

That's terrible....I really feel for you! Hope somehow you are able to remember it.

There seems to be many BTC that are being lost forever and this is only within it's first few years of existence. By 2140 when the last BTC is mined, I can foresee a massive quantity having disappeared forever.

If only 22 million Bitcoins can ever be in existence and Bitcoins can be lost forever what are the effects to the system when large amounts of Bitcoins are lost?

Simply by changing the Algorythm to create some.

Destroying BTC is easy and will compensate the decrease of economy if there is some.

If economy grows, there will be more bitcoins needed to have a stable currency.

Just 51% of miner-power is needed to make a change in the system, like generating more bitcoins.

And miners are the ones who have most interest to keep the system up and working to not leave their bitcoins worthless Wink