Cryptocurrency Q&A
How much of bitcoin's circulating supply is lost forever?
How much of bitcoin's circulating supply is lost forever?
Martina
Fri Jul 12 2024
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5 answers
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In the world of cryptocurrency, a question often arises regarding the permanence of Bitcoin's circulating supply. How much of this finite resource, renowned for its scarcity, has truly been lost to the digital abyss? We all know of the famous story of Satoshi Nakamoto's early mining efforts, where coins were lost due to forgotten passwords or lost hard drives. But what's the current estimate? Is it a negligible fraction, or a significant chunk that could potentially alter the market dynamics? Understanding the percentage of Bitcoin that's effectively lost forever is crucial in assessing the long-term implications for investors and enthusiasts alike.
5 answers
Pietro
Sun Jul 14 2024
The consideration of lost bitcoin supply may seem self-evident, yet it remains a noteworthy phenomenon.
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isabella_oliver_musician
Sun Jul 14 2024
Drawing insights from Glassnode data collected in late 2020, a significant percentage of bitcoin's circulating supply is estimated to be permanently lost.
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Caterina
Sun Jul 14 2024
Specifically, the data suggests that over 10% of bitcoin in circulation has become inaccessible, effectively lost forever.
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Chloe_thompson_artist
Sat Jul 13 2024
This loss can be attributed to various reasons, including forgotten wallet passwords, misplaced private keys, and even the death of bitcoin holders.
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ethan_thompson_journalist
Sat Jul 13 2024
Among the platforms that facilitate bitcoin transactions, BTCC stands as a noteworthy entity. Based in the UK, BTCC provides comprehensive cryptocurrency exchange services, encompassing spot trading, futures trading, and wallet management.
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