Topic: Bitcoin eventually disappear... - page 13. (Read 4280 times)
That is true! I didn't think about that. But with the supply now and people learning fron their mistakes i think it will take a while before that happens. Once that happens maybe we'll see different scenarios. One will be that Bitcoin will lose value and we'll look at a different coin or we'll use a more sophisticated verification to retrieve lost coins.
It is interesting for me. People deliberately spread panic in order to achieve even greater fall of BTC, or do they really think so ?. I am sure that nothing will happen to BTC, because there is too much money here.
with the increasing number of bitcoiners, then it is difficult to move the market significantly with its funds. so they make negative news about it, and move bitcoiner's panic to achieve the goals they want
It is interesting for me. People deliberately spread panic in order to achieve even greater fall of BTC, or do they really think so ?. I am sure that nothing will happen to BTC, because there is too much money here.
It could happen, as there really is a low circulation of whole bitcoins in the world compared to the amount of people. Over time a lot of them will be lost and have been lost already, I'm not sure many people will like to use tiny decimal amounts in the long run. You could also argue that bitcoin is the first iteration of a working digital currency and it seems inevitable that an improved implementation will take the market share.
no one knows for sure the development of cryptocurrency information that says bitcoin will be lost often we hear and see even years ago, but in fact it can still be accessed and invested 
Maybe so, but if that should happen (and that's a long shot) then the price of the unowned Bitcoin will skyrocket since everyone else owns or lost it. But it will not be healthy if Bitcoin didn't circulate so by the time that almost all Bitcoins are lost, we have moved on to another coin or better yet, had a more sophisticated verification retrieve lost coins.
Maybe that can happen if everyone on crypto thinks bitcoin is meaningless and that will reduce the value of bitcoin. But before you have such thoughts, you must see the popularity of bitcoin and bitcoin being the most valuable in crypto, so bitcoin will not be lost.
Maybe in the future they will find a way to gain access to those "lost" coins. I'm not much into programming but the way I understand it is because of its tight security unless you know the private key to the addresses then you can't move those coins. If it weren't, security is nothing. So, we'll just see what happens.
Bitcoin is hacked, like money at a stolen ATM. So security is our own responsibility. It's better to save Bitcoin in an offline wallet, because it's safer. In addition to the code stored in the software, you must save it manually, to avoid damaged software. If the code is lost, the bitcoin is lost.
Well, in this 3rd quarter of 2018 Bitcoin may become in a small number, but there are 21 million number of bitcoin available in the internet, so it would unlikely to happen. If and when that will happen, the price of bitcoin will be very high because of the demand and supply law. If the supply is law and demand is high, the price will also high. Just have faith, and keep the good work.
BTC can hardly disappear from this world, I believe they will last forever and thrive in the next few years.
I think we still have some ways to deal with it.
As other altcoins, we can still figure out coins that are 'dead', or coins that in wallets that are inactive, and ignore them by making a swap for the new coins to take over.
Or if it actually gets destroyed, we will just stop using it as we have a lot of other coins to make use of.
As other altcoins, we can still figure out coins that are 'dead', or coins that in wallets that are inactive, and ignore them by making a swap for the new coins to take over.
Or if it actually gets destroyed, we will just stop using it as we have a lot of other coins to make use of.
No bitcoin will not be able to disappear. Thinking technically, bitcoin that turns out to be very popular in a coin has become a coin. There is a lot of names in Bitcoin all over the world. And bitcoin's success does not end. Bitcoin is also being used in the banking side. So we can say bitcoin may not be disappear.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
In my own opinion, I think bitcoin will end in the future because of its limited amount. If that will not happen in the future, it may experience downfall and will not be famous any more. There will be other crypto currencies that will surpass the features and capabilities of bitcoin.This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
I don't believe that human error can occur on such a large scale on the same time. This situation is practically impossible to happen.
Yes. Those human error mostly happened in the past. Because those most of the early holders didn't see that bitcoin will go as high as $19K in the future. So they throw their desktops, others formatted their pc, etc.
And the lost bitcoin will somewhat add to the price of bitcoin in the positive. Because bitcoin is very scarce and the closer we get to 21M coins, the bigger the price. So I don't think that bitcoin will just disappear. It will be rare in the future that will push its price to new heights.
I don't believe that human error can occur on such a large scale on the same time. This situation is practically impossible to happen. Its an hypothetical situation which has baseless argue. As per this situation anything can happen in this world, All Banks severs can crash at same moment, and have endless possibilities.
Well you posted this in the "Economics" section, so let's make this about economics.
People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
They lose that bitcoin but it is not gone. It cant just disappear from wallet. The fact that the person cant acces the wallet doesnt mean the bitcoins doesn't exist. Yeah, bitcoin price is partially determined by the total supply but if you lost your bitcoins wallet thats not going to decrease the total supply. It will remain the same. The price grows every day because it is harder and harder to mine it not because bitcoins are lost every dayPeople have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
Exactly and if someone's bitcoin loss it will disappear forever and if disappearing bitcoin can affect the supply, well maybe we still have a high supply yet this won't happen.
I don't know what OP in his mind for asking this, maybe he's not just aware how the demand and supply dictates the value of bitcoin and it actually apply to all things and this how the law of supply and demand works.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
In my own opinion, I think bitcoin will end in the future because of its limited amount. If that will not happen in the future, it may experience downfall and will not be famous any more. There will be other crypto currencies that will surpass the features and capabilities of bitcoin. This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Well you posted this in the "Economics" section, so let's make this about economics.
People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
How analytical is the idea. The existence of bitcoin really depends on the community. As long as the community uses, needs and wants it then bitcoin will not disappear. The law on supply and demand also applies to this. People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.
If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.
So basically, no. It's impossible.
Maybe in the future they will find a way to gain access to those "lost" coins. I'm not much into programming but the way I understand it is because of its tight security unless you know the private key to the addresses then you can't move those coins. If it weren't, security is nothing. So, we'll just see what happens.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Bitcoin now is starting to penetrate by accepting it as a means of payments whether in online or stock markets, even banks. so if thats the case, government will make a way to retain it if it will become mode of payments everywhere. so i don't think it will disappear.
There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Bitcoin cant disappear that easily specially nowadays, there were many investors and members trust bitcoin.If became a widely use even if there were many threats on it because, they have seen a big potential within bitcoin.This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
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