Hi all,
i'm pretty new to bitcoin but already using it and also experimenting with new ideas/code. Great concept!
Anyway i wonder what happens with lost coins?
Like when some people with many coins lose their wallet file.
Are they lost forever, and worst for the whole system? Since the generation of the coins are limited as i have read, are those lost coins regenerated at some point too?
So when many people lose their files, maybe through a terrible bug.. well go figure.
Can somebody please explain what would happen and if there are already methods to prevent or something(except backing up, but it's not always possible, e.g. a bad government takes your computer..).
Ok, in RL life, when you lose money it's also forever lost(when noone finds it). But since in BC it's a limited generation of new coins it looks different i think, or am i missing something?
Maybe one solution would be that the network will also forget about those coins when the original node/node with that wallet/ID haven't connected for a very very long time(maybe ~40, ~100 years? on the other hand it might be bad for descent to your child who will knew about your "wallet file" very late etc.) and let's the network regenerate those coins.
Well, i'm not really sure how this is working yet, but just thought about this. Maybe someone can explain/think about this who has more knowledge of bitcoin/it's economics.
Thank you.
i'm pretty new to bitcoin but already using it and also experimenting with new ideas/code. Great concept!
Anyway i wonder what happens with lost coins?
Like when some people with many coins lose their wallet file.
Are they lost forever, and worst for the whole system? Since the generation of the coins are limited as i have read, are those lost coins regenerated at some point too?
So when many people lose their files, maybe through a terrible bug.. well go figure.
Can somebody please explain what would happen and if there are already methods to prevent or something(except backing up, but it's not always possible, e.g. a bad government takes your computer..).
Ok, in RL life, when you lose money it's also forever lost(when noone finds it). But since in BC it's a limited generation of new coins it looks different i think, or am i missing something?
Maybe one solution would be that the network will also forget about those coins when the original node/node with that wallet/ID haven't connected for a very very long time(maybe ~40, ~100 years? on the other hand it might be bad for descent to your child who will knew about your "wallet file" very late etc.) and let's the network regenerate those coins.
Well, i'm not really sure how this is working yet, but just thought about this. Maybe someone can explain/think about this who has more knowledge of bitcoin/it's economics.
Thank you.
Bitcoin is controlled by anonymous people, it means it you make an error you cannot retrieved it anymore. In order to avoid those error or incident, first always double check all the info before you click specially if your going to use your wallet address. Back files is not enough as much as possible make at least 3-5 back up files so that you have a lot of sources when you need it, and the most important is never share your private keys and email to a person that you don't know.