Post
Topic
Board Speculation
Re: Why Bitcoin may now level off...
by
BittBurger
on 04/12/2013, 18:04:33 UTC
You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost  Shocked

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.


I don't know who said this but its wrong.

Nothing happens to coins on a paper wallet.  You probably read the sentence wrong.  He probably said you *could* lose something that is on paper.

Meaning, its possible to misplace it.  The coins don't sometimes "get lost" from paper wallets.

In fact, the coins aren't really there.  They aren't anywhere.   The blockchain is an accounting ledger, documenting where the wealth is.

The wealth is virtual.  The paper wallet just houses the private key.  And its the private key that unlocks your ability to move the coins from their location documented in the ledger.

There are no coins on your paper wallet, and they can't be lost.