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Good point let's factor that in. Let's say 4% per hear or 1,500 Bitcoins are lost per day as of 2020 (crappy sources but let's use them as an example) (1)(2). T
by magicjosh 5y ago
Good point let's factor that in. Let's say 4% per hear or 1,500 Bitcoins are lost per day as of 2020 (crappy sources but let's use them as an example) (1)(2). That puts us at 547,000 Bitcoin lost per year compared to 350,000 from scams across all cryptocurrencies.
(1) https://coinquora.com/bitcoin-supply-loses-1500-coins-per-day-says-crypto-analyst/ https://coinquora.com/bitcoin-supply-loses-1500-coins-per-da...
(2) https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf https://static1.squarespace.com/static/5d580747908cdc0001e67...
- leppr 5y agoThis piece cites the exact same article you linked in your previous reply as the source used to come up with their number. Same issue.
- magicjosh 5y agoTo be clear the paper claims they developed their own methodology. And that this methodology lines up with the previous source: "This figure is consistent with research conducted by Ratliff in 2014 (n. 5) and Chainalysis in 2017.6" Whether you want to believe them is another issue, may simply be that they took the source and built a curve around it. Happy for any other sources or surveys you care to share. It sounds like you think scams and user error are not equivalent. Let's say user error losses are 150 bitcoin per day instead. That would suggest scams are 10X losses from user error.