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Is it a big deal that a BTC can never be lost and later found? On a long enough timeline, won't lost credentials result in BTC that are functionally permanentl
by droopybuns 9y ago
Is it a big deal that a BTC can never be lost and later found?
On a long enough timeline, won't lost credentials result in BTC that are functionally permanently out of circulation?
- droidist2 9y agoInteresting question. Since there's a limited supply theoretically on a long enough timeline every BTC will be lost.
- tlrobinson 9y agoCurrently Bitcoins can be divided to 8 decimal places, and if eventually that's not enough the protocol can be upgraded.
- csuwldcat 9y agoCorrect - you can increase the units in circulation without destroying the purchasing power of those who currently hold the asset, which is a huge advantage over traditional fiat currency.
- pg314 9y agoYou can do the same with fiat currencies. It's called redenomination [1]. [1] https://en.wikipedia.org/wiki/Redenomination https://en.wikipedia.org/wiki/Redenomination