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I'm not into magic beans right now, but if someone loses their wallet password, or computer like this or whatever, what actually happens to the magic beans within the wallet?

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They stay there forever without anyone being able to move them, some consider it a donation to the world. For all intents and purposes, they are gone, like if you had lost a suitcase of money in the ocean. That's why some of the beans are expected to be deflationary over time.

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They're lost forever.

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