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If I lose my wallet and private key does that effectively remove bitcoin from the market forever?

I understand that if I lose my wallet and have no record of my private key then I won't be able to re-establish my wallet. Does this mean that effectively the content of the lost wallet is lost forever to myself and the market?

Murch
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dibs
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1 Answers1

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If you permanently loose your keys, the short answer is essentially yes. Your loss, a deflation, will cause the value Bitcoin being held by others to go up proportionately.

With a 100% efficient quantum computer (not likely at all), the amount of energy required to brute force compute the private keys will cost ~$100M each in electricity (assuming 5 cents per KiloWatt-Hour) if the public keys associated with the private keys are published on the blockchain.

skaht
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