4 ms·
Big if true. If not though, nearly a million out of 17.6 million bitcoins seems like a huge number to be out of circulation, and that's a lower bound (other bi
by N_trglctc_joe 7y ago
Big if true.
If not though, nearly a million out of 17.6 million bitcoins seems like a huge number to be out of circulation, and that's a lower bound (other bitcoin owners have almost certainly died without being able to pass them on). I know that the rate at which bitcoins are awarded slows over time, so it seems like eventually the rate at which bitcoins are lost due to owner death should exceed the rate at which they are created.
How is the long-term state of bitcoin not just a bunch of unrecoverable keys held by dead people?
- cma 7y agoIf it ever became the major world currency and those coins were assumed to just be lost, their reappearance could cause single-day 6% inflation.
- belltaco 7y agoI cannot imagine Bitcoin becoming the major world currency without a wealth tax in place.
- trixie_ 7y agoIf you hold Bitcoins it's great. Every lost coin makes all the others more valuable. A true constant/deflationary resource, much more so than even gold.
- bb88 7y agoA 10% increase of 0 is still 0.
- marcelluspye 7y agoWhere do you get 0 though? They're currently worth $5,500. So 10% of $5,500 is actually $550.
- bb88 7y agoI happen to just so have a limited supply of cryptographically signed numbers. I'll let you be the first one in on 'em. I'm selling them for $10,000 a piece.
- deleted 7y ago[deleted]