one well known to many in the Bitcoin
community in fact it's almost like lost
Bitcoin lore in June of 2013 Howells
threw away a hard drive containing the
private keys to 7,500 bitcoins the price
of Bitcoin at the time was about a
hundred and thirty dollars at seven
thousand three hundred forty-seven
dollars this tragic action cost how was
about fifty five million dollars today
supposedly how will stop mining and used
the original laptop for parts but kept
the hard drive in a drawer at home that
hard drive was mistakenly thrown out
there are similar stories and all give
bitcoiners and did chills let's dive a
little deeper into this phenomenon lost
Bitcoin so what happens the lost Bitcoin
researchers believe that 64 percent of
bitcoins have never been spent but it's
impossible to tell whether dormant coins
are lost or being stored the blockchain
does provide some insight as it is a
public ledger that holds every
transaction ever made miners who verify
new transactions are simply appending
new blocks to the blockchain addresses
have ownership of a certain number of
bitcoins and when coins are transaction
from the address since the same person
has access to all of them at that
address they are not lost
dormant Bitcoin statistics that parsed
the blockchain by big info charts show
roughly 23 million Bitcoin wallets exist
but more than 13 million of them own
only a fraction of a Bitcoin the stats
show that only 1,500 addresses hold
between 1,000 and 10,000 bitcoins while
the top 111 wallets have more than
10,000 bitcoins each using their
calculations 87% of all bitcoins mined
are owned by 0.5% of all the Bitcoin
wallets 61% of all bitcoins are owned by
just point zero seven percent of wallets
that exists the largest Bitcoin wallet
in the world increased its amount by
60,000 bitcoins at the end of 2017 talk
about buying the dip those with huge
holdings of bitcoins are known as Wales
and the spread of wealth among them is
while some of the top wallets are owned
by exchanges it's clear by the in
frequency of transactions that many are
owned by wealthy investors recover lost
Bitcoin bitcoin is a deflation Airy
currency because only a finite number
will ever be mined once
21 million coins are mined that is but
because of lost forgotten or destroyed
wallets and even death of a Bitcoin
owner that number will be far lower so
can lost bitcoins to be recovered or are
they lost forever the probability of
recovering lost bitcoins is effectively
impossible as this is what the security
of Bitcoin is based on just as if you
lost your private key and could not
recover your bitcoins so it is with any
other lost coins regardless of the
circumstances while there are services
that can assist people in recovering
their wallets the options are very
limited and usually related to password
recovery all bitcoins ever mined are
sitting on the blockchain in the
respective addresses and are not lost at
all they are just not accessible since
the keys that would allow moving or
spinning them or lust find lost bitcoins
so what happens if you were to find lost
bitcoins for example you buy an old used
computer and find a wallet and more
importantly the password to the wallet
on it if the previous owner was tech
savvy it's possible he has a copy of his
private key on a new computer if so and
some of his pick corns are transferred
to another address it's possible he
would notice the change in password if
all were transferred it's likely the
owner would try and track down those
funds however if they were transferred
to a new address on a decentralized
exchange than exchange for save Minero
and smaller transactions and then back
to Bitcoin it would be impossible to
trace if it turns out that you don't
know or can identify the previous owner
and we're lucky enough to find a wallet
and that you can have access which
contains the private keys to Bitcoin
that congratulations you hit the jackpot
so learn how to secure them so the same
doesn't happen to you pay your taxes if
you cash them out to fiat and enjoy
finding some lost Bitcoin if you'd like
to learn more about Bitcoin then
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