Topic: How does bitcoin market cap take into acount forever lost bitcoins - page 3. (Read 503 times)
November 27, 2020, 09:51:14 AM
We actually don't know how much coins are lost. Also, they might not really be lost. We can be certain that there will never be more than 21 million BTC as that is a core characteristic of BTC. However I could see events that would put lost coins back into circulation, like philipma1957 is suggesting for example.
November 27, 2020, 09:10:40 AM
No all mined coins x price = market cap.
Think gold do we count the gold in sunken treasure ships?
Do we count the gold in the ground?
Do we count the gold in the astroid belt?
Do we count the gold hidden in undiscovered burial grounds?
Bitcoin is more accurate as we know editknown exactly how many coins exist.
BTW every lost coin can be recovered if agreed upon by consensus.
Pretend there are 2 million lost coins.
We could agree that a wallet/address not touched for 50 years goes back into the pool of 21 million coins.
look at block 17. it sits still since 2009
https://www.blockchain.com/btc/block/000000003ff1d0d70147acfbef5d6a87460ff5bcfce807c2d5b6f0a66bfdf809
https://www.blockchain.com/btc/address/1LPBetDzQ3cYwqQepg4teFwR7FnR1TkMCM
no withdrawal so in 2059 it gets zeroed out and goes back to the 21,000,000
btw this fixes the idea that we run out of coins. in the years 2050-2100
So with a proper vote dead addresses with so called lost coins are not so lost.
year ----- btc
2024 = 3.0625
2028 = 1.53125
2032 = 0.765625
2036 = 0.3828125
2040 = 0.19140625
2044 = 0.095703125
2048 = 0.0478515625
2052 = 0.02392578125
2056 = 0.011962890625
2060 = 0.0059814453125 so add coins back from abandoned accounts in 2059
eventually no abandoned or lost coins occurs, but we never go over 21 million.
Think gold do we count the gold in sunken treasure ships?
Do we count the gold in the ground?
Do we count the gold in the astroid belt?
Do we count the gold hidden in undiscovered burial grounds?
Bitcoin is more accurate as we know edit
BTW every lost coin can be recovered if agreed upon by consensus.
Pretend there are 2 million lost coins.
We could agree that a wallet/address not touched for 50 years goes back into the pool of 21 million coins.
look at block 17. it sits still since 2009
https://www.blockchain.com/btc/block/000000003ff1d0d70147acfbef5d6a87460ff5bcfce807c2d5b6f0a66bfdf809
https://www.blockchain.com/btc/address/1LPBetDzQ3cYwqQepg4teFwR7FnR1TkMCM
no withdrawal so in 2059 it gets zeroed out and goes back to the 21,000,000
btw this fixes the idea that we run out of coins. in the years 2050-2100
So with a proper vote dead addresses with so called lost coins are not so lost.
year ----- btc
2024 = 3.0625
2028 = 1.53125
2032 = 0.765625
2036 = 0.3828125
2040 = 0.19140625
2044 = 0.095703125
2048 = 0.0478515625
2052 = 0.02392578125
2056 = 0.011962890625
2060 = 0.0059814453125 so add coins back from abandoned accounts in 2059
eventually no abandoned or lost coins occurs, but we never go over 21 million.
November 27, 2020, 08:41:51 AM
Right now Bitcoin market cap is about $316,001,197,150 for a bitcoin price of $17,029.88, doing the math ( not my forte ) that means they are taking into account 18 556 650 coins in existence.
It´s fairly known that way more than 10% of all bitcoins is forever lost.
So my questions:
Is there a more reliable market cap calculation out there?
How does this affect evaluation, for example when comparing bitcoin to gold.
What would be the best method of knowing how many coins still exist?
1st time post... so maybe a bit of a newbie kinda questionnaire.
stay cool good people of the internet
It´s fairly known that way more than 10% of all bitcoins is forever lost.
So my questions:
Is there a more reliable market cap calculation out there?
How does this affect evaluation, for example when comparing bitcoin to gold.
What would be the best method of knowing how many coins still exist?
1st time post... so maybe a bit of a newbie kinda questionnaire.
stay cool good people of the internet
Jump to: