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My problem with this and BTC is that it isn't even a truly fixed currency supply - as people lose wallets, the bitcoins they contained are permanantly lost beca
by zanny 14y ago
My problem with this and BTC is that it isn't even a truly fixed currency supply - as people lose wallets, the bitcoins they contained are permanantly lost because only those wallets (that are now destroyed) are lost. So either you brute force the signing key and try to imitate the wallets or you will never get those coins back.
So it isn't just that BTC will (in a hundred odd years) stop growing the money supply, it will probably (sooner than that) start leaking bitcoins from lost wallets, and as the money supply drops deflation grows faster than with a fixed money base.
- snitko 14y agoThere won't be a lot of lost wallets. At least not enough to cause any kind of noticeable effect.
- dragonwriter 14y ago> There won't be a lot of lost wallets. At least not enough to cause any kind of noticeable effect. With a fixed upper limit on the number of BTC ever issued, if wallets are lost at any non-zero rate, there will eventually be exactly 0 BTC that can be spent.