Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: 1111111111111111111114oLvT2
by
DaveF
on 29/10/2022, 11:52:18 UTC
⭐ Merited by PowerGlove (1)
...The amount of provably burned bitcoin is quite low at 2,823 BTC.

The more interesting thing, that we will never know, is how much has been lost / burnt due to bad wallets and bad coding in general.
Eliminating the malware wallets, there have been a lot of coins lost over the years, and a lot in the early days of BTC, just due to bad programming and people just playing around.

Lets face it, when BTC was $0.50 and you were testing something and using the main chain instead of testnet, and you tried ten 1BTC transactions before you figured out the issue. Do you go back and waste hours of time to try to retrieve $5.00 or did you just move on to the next thing.

I have done that with some network equipment, yes I could have opened a ticket with the vendor and got something that was damaged due to a bad PoE situation replaced. But, the boards were under $30 each. Between the time to setup a RMA, and the cost to ship would have been a negative number to get them replaced at the time.

FYI, since they are long since discontinued and still needed at times they sell for $7500+ on ebay now. But, back then I would have justifiably gotten yelled at for wasting time. Even if I had passed them to a minimum wage intern to deal with.

-Dave