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RE: What Happens to unclaimed Bitcoins?
With physical gold i'm sure the banks have contact details of the owner(s) and there is probably something in the storage conditions that allow the banks to repossess the contents if the owner doesn't pay their storage fees... with Bitcoin and other crypto's it just disappears from the currency supply... eventually 21 million bitcoin owners will lose their codes or die without passing them on and the currency will end up being just some code in cyberspace?
yes i agree that there has to be some mechanism that would recover bitcoins that were not touched for a long period of time putting them in circulation ...same mechanism should also have a way to resolve situations where someone claims its bitcoin after X years that it was not touched and have a way to recover it´s bitcoins