How to reduce total number of bitcoin circulations

VitKoyn

full member

Activity: 490

Merit: 106

Quote from: caloriecoin on February 11, 2018, 06:07:05 AM

Is it possible that all wallets which did not have any transaction in past 3 years are considered inactive and only those bitcoin wallets which have had
at-least 1 active transaction are allowed to send/receive bitcoins.

What do you think?

No possible way to block or stop those Bitcoin address that is not active or don't have any transactions for the fast few years from sending or receiving Bitcoin. And we can't say that when a Bitcoin address is not active for a long time they don't have an owner or the coins that is stored there are already lost forever, because it can also be a cold wallet address and the owner wants to just hold it. The purpose of those wallet/addresses are not just for transacting cryptocurrency but also for storing your coins so why do you want this to happen?

Jating

hero member

Activity: 2842

Merit: 772

Quote from: caloriecoin on February 11, 2018, 06:07:05 AM

Is it possible that all wallets which did not have any transaction in past 3 years are considered inactive and only those bitcoin wallets which have had
at-least 1 active transaction are allowed to send/receive bitcoins.

What do you think?

it's not possible, there are really a lot of wallets that are inactive, maybe the owners lost the private key and can't accessed it anymore. But there are some 3 year old wallet that are inactive but have owners on it. They might be inactive because they simply doesn't want to touch it, they are what you call bagholders. They will never sell anything, not unless they have reached their exit strategy. But I doubt that they will because we all know that the longer you hold it, the higher profits can be made.

What do you asked though? What's the reason behind if I may?

Vatimins

sr. member

Activity: 987

Merit: 289

Blue0x.com

Quote from: caloriecoin on February 11, 2018, 06:07:05 AM

Is it possible that all wallets which did not have any transaction in past 3 years are considered inactive and only those bitcoin wallets which have had
at-least 1 active transaction are allowed to send/receive bitcoins.

What do you think?

To be honest, I really do not think it is possible. Simply because I think that the developers will never ever want to reduce the circulating supply. Heck, I don't even think that this idea will even cross their minds because clearly, a lot of people have lost their bitcoins because of losing wallets and forgetting private keys, while others have died without even telling anyone else that they happened to hold bitcoins. this alone is a already reducing the circulating supply a lot since the coins are forever lost. Now, if you are an owner of a huge amount of bitcoins and decided to put it aside for let's say your son's future and have been keeping the wallet that contained those bitcoins for already 5 years or so, would you be happy if this ever happened to you? think about it man all the hard work and the effort to resist the temptation to to sell for your wants will all go to waste just because of the said rule.

zhekinsp

full member

Activity: 882

Merit: 126

★777Coin.com★ Fun BTC Casino!

Quote from: caloriecoin on February 11, 2018, 06:07:05 AM

Is it possible that all wallets which did not have any transaction in past 3 years are considered inactive and only those bitcoin wallets which have had
at-least 1 active transaction are allowed to send/receive bitcoins.

What do you think?

Why you want to reduce the circulation bro. Huh

And it is not possible too.

If the bitcoin stops circulating then the bitcoin will lose its value.

It is a bad idea that if the wallets are inactive for three years are not allowed to make transaction,many holders are keeping their bitcoin in cold storage for some years to make good profits.

caloriecoin

newbie

Activity: 113

Merit: 0

Is it possible that all wallets which did not have any transaction in past 3 years are considered inactive and only those bitcoin wallets which have had
at-least 1 active transaction are allowed to send/receive bitcoins.

What do you think?

Topic: How to reduce total number of bitcoin circulations (Read 100 times)