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The problem is we don't really know what's lost and what's in storage. It could be that all those lost bitcoins are just sitting in someone's harddrive, waitin
by howardmilt 10y ago
The problem is we don't really know what's lost and what's in storage.
It could be that all those lost bitcoins are just sitting in someone's harddrive, waiting for moment to crash the market
- m3ta 10y agoThat is a similar but separate problem. It is admittedly a larger problem in particular for bitcoin and other currency systems with fixed supply.
- shuntress 10y agoI think it is important to note that implementation of the currency is separate from its value. The system for trading ownership of bitcoins does not care for the value of that ownership. The value we, outside of the system used for logistics of trade, place on the bitcoins is then affected by their scarcity. To the system, it doesn't matter if the scarcity is caused by loss or by hoarding. But this can affect our valuations.