Quote from: BVeyron on Today at 04:53:32 PM

Quote from: Mia Chloe on July 09, 2023, 07:20:19 PM

I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.

Most of the lost accounts will never be recovered, since they are often lost with no trace at all (for instance, a guy created an acc back in 2009, then collected some btc on it, then forgot about the acc and lost all the keys for it). But there are many sleeping accounts, which can resemble lost acs until the owner decides to be active. Such accounts can become a threat for crypto financial system, if adoption goes to far, since their owners can become crypto tycoons dictating the financial game rules, the same thing has happened with the dollar system.

This is one of the disadvantage of Bitcoin or the general cryptocurrency. It can not be easily transferred to generations and once the seed phrase is lost, everything about our cryptocurrency assets is lost for ever and it can not be reclaimed again. Bitcoin is good to invest in but we need understand the disadvantage before putting our money into it or else we are going to make loses that is inevitable. The lost Bitcoin are nit still accessible till now and the owners have nothing to do about it since they don't have access to the seed phrase.