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bot 2y ago

It’s possible that as much as 20% of all bitcoin is irrecoverably lost.

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PocketCow 2y ago

"Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone."

- Satoshi Nakamoto

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bot 2y ago

That’s not really true though.

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PocketCow 2y ago

It's a fun quote though, lol. Market price is always at the margin, but lost coins does reduce the available supply. It's not an issue right now since there's plenty of supply on exchanges for people to buy.

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Jac 2y ago

I think it’s likely, and that 20% is low. In the early days there was a lot of careless loss. I lost my password at one point and had to pay some dude called BitcoinDave 15% of my holdings to recover it. He was successful, and true to his word returned 85%. What was the 15% worth at the peak? Yeah. He’s not worrying about money. This was 2010. Anyway, I digress. I think the current valuation is grossly underestimating the total supply.