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One man's loss is everyone else's gain. If $500MM of a coin is irrevocably lost or destroyed, everyone just gained $500MM in value through an increase rarity.
by ryandvm 9y ago
One man's loss is everyone else's gain. If $500MM of a coin is irrevocably lost or destroyed, everyone just gained $500MM in value through an increase rarity.
It's equivalent to the losers transferring all their coin to the rest of the network participants (in proportion to their stake).
- chrisseaton 9y ago> If $500MM of a coin is irrevocably lost or destroyed But the examples in the article are about coins being stolen, not lost or destroyed. Someone somewhere still has it and is presumably able to spend it.
- ryandvm 9y agoWell, it wasn't a very germane comment to start it with. I guess I should have read the article...
- akerro 9y ago>But the examples in the article are about coins being stolen, not lost or destroyed. Someone somewhere still has it and is presumably able to spend it. quite a lot of these stolen coins were tracked down and weeks later locked by exchanges when someone tried to sell them.