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Brings up a very interesting question I haven't seen wnswered yet: What happens to the bitcoin economy when peoples bills get lost, or more interesting, if dis
by eitland 16y ago
Brings up a very interesting question I haven't seen wnswered yet:
What happens to the bitcoin economy when peoples bills get lost, or more interesting, if disks crash without a backup?
- DenisM 16y agoIt's addressed on their web site. In short, bitcoin currency is inherently deflationary due to natural loss of coins. The problem, however, is mitigated by their infinite divisibility - a million years from now the whole world will only have one bit coin in operation, and everyone will operate in pico-coins. A pint of beer - 5 picocoins, hourly wage - 100 picocoins.