Bitcoin fun facts: Did you know that millions of BTC are “frozen” forever? 🧊
Although Bitcoin’s maximum supply is 21 million, the amount actually available is much lower. It’s estimated that between 3 and 4 million bitcoins have been irreversibly lost.
What really happens to them? Here’s an explanation:
• They don’t disappear; they’re just locked away: Nothing is erased from the Bitcoin network. Those coins continue to exist as intact mathematical records on the blockchain, and anyone can look up their old addresses and see the balance there.
• The glass vault: Having bitcoins without their private key (or recovery words) is like having an indestructible glass vault in the middle of a public square. Everyone can see the money inside, but no one—not even Bitcoin’s creators—can open it.
• Greater scarcity: Since they’re immobilized forever, these bitcoins reduce the actual supply in circulation, making active coins even scarcer.
$BTC #blockchain
Although Bitcoin’s maximum supply is 21 million, the amount actually available is much lower. It’s estimated that between 3 and 4 million bitcoins have been irreversibly lost.
What really happens to them? Here’s an explanation:
• They don’t disappear; they’re just locked away: Nothing is erased from the Bitcoin network. Those coins continue to exist as intact mathematical records on the blockchain, and anyone can look up their old addresses and see the balance there.
• The glass vault: Having bitcoins without their private key (or recovery words) is like having an indestructible glass vault in the middle of a public square. Everyone can see the money inside, but no one—not even Bitcoin’s creators—can open it.
• Greater scarcity: Since they’re immobilized forever, these bitcoins reduce the actual supply in circulation, making active coins even scarcer.
$BTC #blockchain
