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[onlyprofits]

The company Cane Island Digital Research (CIDR) did an investigation on the amount of BTC that is lost daily and according to its estimates these were the results:
Every day 1,500 BTC are irreversibly lost.
Every day on average 900 BTC are mined.
According to these calculations, the current BTC supply is 25% less than what has been mined to date, that is, 18.5 million have been mined and there are only 13.5 million circulating.
For Coinmetrics there are only 1.5 million BTC lost.
To all this Satoshi Nakamoto added that the lost coins are profit for others.

 

[SCAMEXPOSER]

The percentage lost is high for a coin that is limited in supply. I wish the reason of the likely cause of losses were also mentioned for us to Learn because I can't believe sending of bitcoin to wrong address could be responsible for this.

 

[Josemendez]

The company Cane Island Digital Research (CIDR) did an investigation on the amount of BTC that is lost daily and according to its estimates these were the results:
Every day 1,500 BTC are irreversibly lost.
Every day on average 900 BTC are mined.
According to these calculations, the current BTC supply is 25% less than what has been mined to date, that is, 18.5 million have been mined and there are only 13.5 million circulating.
For Coinmetrics there are only 1.5 million BTC lost.
To all this Satoshi Nakamoto added that the lost coins are profit for others.

My question is , how is these huge amount of Bitcoin lost apart from when Bitcoin wallet owners lost their private keys . Can Bitcoin be lost through mining ?

 

[Nicklaus_nick]

Woow 1500BTC loss is high... What exactly is the cause of these loss? could it be the coins get stolen by hackers because i really don't understand the reason for the high loss

 

[Balint098]

My guess is that either people forgetting their private keys or passed away before they were able to pass on the keys to their family.

 

[Niftyicon]

People forgetting their private keys seems a more likely reason for this large amount of BTC being lost. Wrong addresses could also be part of it. There should be more information about this to help people avoid more losses in the future.

 

[Wisdom01]

Yeah u think it might be mistake in sending BTC to the wrong address , because even some crypto site do warn users to be more careful and verify their address before sending BTC

 

[Josemendez]

But then don't you think that the wallets owners may in a way have access to these funds that are lost through losing the private keys to the wallet

 

[Brain]

The loss is really high I wonder what is really the cause of that could it be from fraudulent activity or loss from mining. All the same it's a great loss.

 

[Cryptocoins69]

The loss amount dose sound high, I can see how coins are lost. It dose suck when that happens.

 

[Reznov]

any ideas where do that lost bitcoin go to and how it comes it's lost ? i believe that the mined ones aren't lost, and that's a sure thing, but the lost ones must be in wrong transactions or something like that

 

[Josemendez]

any ideas where do that lost bitcoin go to and how it comes it's lost ? i believe that the mined ones aren't lost, and that's a sure thing, but the lost ones must be in wrong transactions or something like that

Where it goes is something I don't know but I know that a Bitcoin can be considered lost if it can't be accessed again by the owner of the coin .

 

[Wisdom01]

any ideas where do that lost bitcoin go to and how it comes it's lost ? i believe that the mined ones aren't lost, and that's a sure thing, but the lost ones must be in wrong transactions or something like that

I guess those lost bitcoin area mainly caused by users who sent to the wrong address like putting an Eth address instead of BTC address to receive funds

 

[Josemendez]

I guess those lost bitcoin area mainly caused by users who sent to the wrong address like putting an Eth address instead of BTC address to receive funds

Yeah this one of the reasons as I have experience such loss when I mistakenly sent Bitcoin to an ethereum address . The money was lost completely

 

[Wisdom01]

Yeah this one of the reasons as I have experience such loss when I mistakenly sent Bitcoin to an ethereum address . The money was lost completely

Yeah that's why it's better to verify by checking if it's correct based on the first and last number ,if everything is correct then the person can continue

 

[Josemendez]

Yeah that's why it's better to verify by checking if it's correct based on the first and last number ,if everything is correct then the person can continue

Is there a way the first and las number tells us the address that is being used ? If yes please explain more for me to understand it more

 

[SCAMEXPOSER]

The only thing i noticed is that most of these wallet in recent times are able to detect an address that is for bitcoin or ethereum or another coins so coins do not go to the air any more .

 

[Niftyicon]

The only thing i noticed is that most of these wallet in recent times are able to detect an address that is for bitcoin or ethereum or another coins so coins do not go to the air any more .

This is best and should be a common feature for all wallets. If that aspect is taken care of, then we could look into other means by which BTC may be lost.

 

[onlyprofits]

I placed this article because it seemed interesting to me, since previously in another thread this topic had been discussed. The number of bitcoins that have been lost also seems high to me. Among the causes that the news exposes are addresses that contain BTC and have not moved them in a period of at least 3 years, another cause is the forgetting of the keys, another is the wrong delivery.
Therefore and according to them, the lost bitcoins remain lost, but personally I find it difficult to believe that.

 

[SCAMEXPOSER]

I don't see any reason why someone will store huge amount of bitcoin in a wallet that he or she has forgotten the pass key, these are sensitive things to be copied somewhere safe. People passing away and their passwords not accessible could be possible.