Post
Topic
Board Beginners & Help
Re: What happens bitcoins when somebody looses their wallet in the long term?
by
DannyHamilton
on 10/04/2013, 23:41:31 UTC
I am not understanding the whole they are gone thing.. arnt they saved on a server somewhere never to be touched.. therefore the value of the coin will always be saved?.. I is confused.

Gone in a way that is similar to a gold bar dropped into the Mariana Trench is considered "gone".  It still exists, but is is no longer accessible.  Of course, with a gold bar in the Mariana Trench, there might be a chance of retrieving it with current technology.  With lost private keys, there is no currently known technology that would allow you to retrieve it.