Topic: Bitcoin eventually disappear... - page 17. (Read 4280 times)
The absolute quantity of money is not as important as it is expected. It doesn't matter if the bitcoins are lost to one, and you can have more than N Numbers behind the decimal point. So I don't think bitcoin will go away.
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?
Many people are loss their private so the number of bitcoin that can be use is decreasing. It makes the comparison between supply and demand is become larger. This world is so old, I am sure that bitcoin still can be used before doomsday come. I hope more bitcoin users are more aware about how to secure their private key data of their wallet. 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?
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?
better that you will gone first before bitcoin,youre idea is too far from reality yeah theres carelessness when some bitcoin holders forgot their password,some have dies without giving password to others,some have just gone withhe wind,but this are isolated cases.dont be generalized because the volume of bitcoin is enough to stand for long years.enough that you will gine fist before btc does 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?
Never happen that becuase we all know bitcoin has so may troubles come, but all of that is successfull defend its reputation, we need support bitcoin. Becuase in this we have a chance to be a billionaire. Just work hard.
The higher the price Bitcoin the more careful people will store it. Loss due to this decrease.
In addition, you can enter fractional parts bitcoin, the same Satoshi (1 BTC = 100 000 000 Satoshi) or even less.
In addition, you can enter fractional parts bitcoin, the same Satoshi (1 BTC = 100 000 000 Satoshi) or even less.
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?
I doubt shrinking to certain amount because even looking at the figures, it seems so impossible for every bitcoin, there are 100million satoshis which mean there are 21million* 100million satoshis. How that wants to shrink to the point where bitcoin will cease to exist is what I would appreciate op to describe for my understanding.
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.
There is no practical difference between a coin "disappearing" and a coin being unable to be accessed to be spent. From the perspective of supply and demand, an inaccessible coin is indistinguishable from a non-existent coin in that neither will factor into supply. If a coin were to disappear, or simply become inaccessible due to lost private keys, it will decrease the supply available, and decreased supply leads to a higher price as stable demand chasing fewer coins necessitates a higher price (theoretically). Supply isn't the number of coins that are mined, it's the number of coins that are accessible.
Having this one said, based on OP's point. no it will not lose it's value it will even result to a higher market price since the supply that is circulating will be less and when higher demands occur it will result to higher price per piece of coin.
Bitcoin disappearing from its usage or from the list of cryptocurrency is never gonna happen in the short or later in the future. Though the asset is completely functional on speculation and the trust, due to its virtual functioning. What it has reached is simply much bigger and providing path for growth of different other assets.
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?
There would really be instances that bitcoin would be possible be forgotten or lost which would really cause to lessen the circulating supply or even the overall supply and its not really possible to use those bitcoin and would be considered to be lost forever in the void or somehow floating into the ecosystem.Once you lose the keys of it then you cant do nothing but move on but i do believe that not all people are dumb enough to lose every single bitcoin that they do have. 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.
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.
There is no practical difference between a coin "disappearing" and a coin being unable to be accessed to be spent. From the perspective of supply and demand, an inaccessible coin is indistinguishable from a non-existent coin in that neither will factor into supply. If a coin were to disappear, or simply become inaccessible due to lost private keys, it will decrease the supply available, and decreased supply leads to a higher price as stable demand chasing fewer coins necessitates a higher price (theoretically). Supply isn't the number of coins that are mined, it's the number of coins that are accessible.
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.
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.
As long as storage and transactions are handled by humans, there is no way to avoid human errors, regardless of the assets value. Sure it is less likely to be lost, the higher the value. But will it ever be totally secured just because it is of a certain high value.
I am not convinced.
Then it will just get reduced and reduced in the max supply which leads to a much mlre limited supply.
I doubt that all 21 million bitcoins will be lost, or even half of it or a million of it. People tend to keep their assets secure especially when its valuable so they may lose a little bit of bitcoin now and then but not that great actually.
Bitcoin developers will continue to innovate with all the possibilities that will happen in the future. Such as segwit or splitfork. It's one of developers' innovations on the latest bitcoin conditions. So, potential bitcoin be disappear is impossible to happen.
Bitcoin is the most unlikely currency to dissapear. It's essentially build in a way, that it's distributed to everyone WORLDWIDE, which means everyone is a part of the currency. So if you want to bring BTC down you have to bring first down everyone who uses it, which in FIAT terms that would be a country. But in BTC terms that a international community spread to all corners of the world! How do you destroy that? We are everyone and everywhere, no one has the upper hand in BTC (maybe namakoto, but he's the man anyway), which makes it one if not the safest currency in the world (albeit volatile... for now)
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?
I thinks most of what you have said are true, but I don't think that bitcoin will shrink and eventually lose its value. I Think the opposite will happen, it will just increase its value even more, or lets say that what you are saying happened in the future, then I think some altcoin would quickly take bitcoins place and rule the market.
If Bitcoin did disappear, so would a lot of people. LOL.
There is no chances about this conspiracy theory so many lives are connected to bitcoin and if eventually this will happen so many people will come onto the roads and there will be very difficult for their government to negotiate their loss and there is only one way that bitcoin disappear “no internet no humans on earth”, bitcoin will bless people till apocalypse.
No I don’t agree because it’s very hard to disappear a living currency in a very short time and in the case of bitcoin it is growing now a days. People are become more trusting on this currency. People are more attached with this digital currency ad to say in a sense that bitcoin is the most strongest currency in this century,
Yes if the majority of bitcoin will be lose and was not retrieve posibilities are bitcoin can die in the curculation because of the fact that there are only limited bitcoins but I think bitcoin is spread througout the world that a lose of one person will not affect bitcoin supply and also the price can still increase to sustain the growing demand
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?
I thinks most of what you have said are true, but I don't think that bitcoin will shrink and eventually lose its value. I Think the opposite will happen, it will just increase its value even more, or lets say that what you are saying happened in the future, then I think some altcoin would quickly take bitcoins place and rule the market.
I think even if the bitcoin decreased by the years passed it wont still be actually disapperad forever because some of the people store their bitcoin on a safer wallets(hardware wallet). If the volume of the bitcoin decrease the value of it may pump or get a higher value. and the chance that the value increase some of the people who store it may sell it on the market to get a big profit for it .
I agree, and I also don't think Bitcoin will disappear but maybe it's value in time will increase but I highly doubt it will disappear. It had contributed and helped a lot of people, for sure those who are holding on to their bitcoins for a couple of years would agree because they are most likely holding on to bitcoins because they are all hoping its value will increase in time more than what its current price is at.
I think even if the bitcoin decreased by the years passed it wont still be actually disapperad forever because some of the people store their bitcoin on a safer wallets(hardware wallet). If the volume of the bitcoin decrease the value of it may pump or get a higher value. and the chance that the value increase some of the people who store it may sell it on the market to get a big profit for it .
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