Read this : What is the impact of “lost” cryptocurrency (a hardware wallet being forgotten about/physically destroyed after its owner dies, people sending crypto to the wrong wallet addresses, etc.) on the crypto market as a whole? Is there a possibility of all coins of a particular crypto being lost one day?

By | February 23, 2021
Share this

An extremely prevalent and current example of crypto being lost is sending cash to either the wrong wallet, or even a wallet address that doesn’t exist. What goes on to these coins, are they lost permanently? If so, would that mean that the complete amount of, let’s say, Bitcoin, would be completely reduced, therefore inherently increasing the cost of Bitcoin? A future issue I anticipate occurring is the permanent mass lack of crypto coins due to people of the generation – the generation that will existed when crypto was first made and was crucial to its expansion and popularization – dying. Groups of some crypto holders might not be conscious that their relative owned crypto assets in the first place. The wallets from the deceased would then be neglected about. Or, the deceased’s family members might have known about the existence from the crypto wallet(s), be it a equipment or software wallet, but the personal keys could be irretrievable. Etc . Is there solutions to the inheritance of cryptocurrency already? If there aren’t any kind of solutions to this right now, I think about this is a problem that will have to be resolved in some way in the future if there are several mass losses among different cryptocurrencies.
submitted by /u/ExcellentNoThankYou
[link] [comments]Read More
The post you just read was originally posted on social media, you can click on the above “Read More” button to see the original post .

Thanks for visiting, you can leave a reply or comments below at the comment box.