I don't know what that halflife is, but it is a finite amount of time. I'm just saying.
The amount of time this planet will remain habitable for humans is also finite. 
Topic: One day, there won't be any bitcoins anywhere - page 2. (Read 3483 times)
Nobody sees a problem around here? Well alrighty then, gimme some of that kool-aid already, woohoo yeah!
Will you please offer an argument for why adding decimal places is farcical? Also, in what time frame do you see this problem becoming apparent? The second question is important because it's a near certainty that lots of things we now depend on will be gone at some time in the future, but that isn't something we typically get bothered about now.
Nobody sees a problem around here? Well alrighty then, gimme some of that kool-aid already, woohoo yeah!
You have not stated a problem, you've asserted a postulate with incorrect premises. Listen to a few people, and learn a few things, then reassess the issue.Assume that X is a value style of monetary currency for etrade and at any given time X(B) is the numerical value used. That works just fine. Economic crises, hyper or stagflation occur when rapid changes occur in the X(?).
More important is the velocity of transactions, anything strictly etrade can have unimaginable high velocity.
TBH its likely that the encryption that bitcoin uses will be broken by CPU's waaaaay before this becomes an issue
Once this encryption is broken, no protection against double spending.... The whole thing becomes useless
Once this encryption is broken, no protection against double spending.... The whole thing becomes useless
Nobody sees a problem around here? Well alrighty then, gimme some of that kool-aid already, woohoo yeah!
Someday in the future, the world will run out of oil. But that doesn't scare millions of drivers today.
One day, the thermal entropy of the universe will be zero.
In an infinite amount of time perhaps.
In the mean time, it will just asymptotically approach zero and we will redefine British Thermal Units (BTU) to British Thermal Counters.
This will solve all of our energy and monetary problems for the foreseeable future.
One day, the thermal entropy of the universe will be zero.
Let me fix your problem for you...
As BTC become so rare that even one Sotashi is too large a unit for routine purchases, the transactioners will implement the following change on all bit coins that are transacted:
One Byte coin will be issued in place of each Sotashi worth of BTC that would be issued. The new BYT will be as sub-divisible as the old BTC.
Seems like it works for me...
As BTC become so rare that even one Sotashi is too large a unit for routine purchases, the transactioners will implement the following change on all bit coins that are transacted:
One Byte coin will be issued in place of each Sotashi worth of BTC that would be issued. The new BYT will be as sub-divisible as the old BTC.
Seems like it works for me...
If there is only a single Bitcoin left, it's still enough to to all trading there is on earth.
Why?
Because you can trade with 0,0000000000000000001 Bitcoins, just give them a name so that it's 1 miniBitcoin instead of 0,000...
Why?
Because you can trade with 0,0000000000000000001 Bitcoins, just give them a name so that it's 1 miniBitcoin instead of 0,000...
One day there won't be an Earth, or even a universe. 
Bitcoins could keep on being divided into smaller and smaller units as more and more of them are lost. Even fractions of a satoshi are possible with a change to the protocol.
The question is at some the missing bitcoins will be a big problem because there is no way to tell if a bitcoin is being hoarded or is actually lost.
If someday 90% of the bitcoins are unused or missing and the active 10% remaining make up, say, a 100 billion bitcoin economy.
Well if a large portion of those missing/inactive bitcoins suddenly start being used the bitcoin economy would crash. So as time goes on, bitcoins will become more and more risky as this possibility will have more and more impact on the economy.
The question is at some the missing bitcoins will be a big problem because there is no way to tell if a bitcoin is being hoarded or is actually lost.
If someday 90% of the bitcoins are unused or missing and the active 10% remaining make up, say, a 100 billion bitcoin economy.
Well if a large portion of those missing/inactive bitcoins suddenly start being used the bitcoin economy would crash. So as time goes on, bitcoins will become more and more risky as this possibility will have more and more impact on the economy.
One day, ECDSA and SHA-256 will be able to be broken pretty quickly, and it'll probably be way before there's less than 100b Satoshis in circulation. One day, we'll all die.
BTCs being nearly non-existent won't be a problem for many generations.
BTCs being nearly non-existent won't be a problem for many generations.
1/2 1/4 1/8 1/16 1/32 1/64 1/128 ....... 1/65536 amount of original total remaining. Ok you're right, not disappeared entirely.
It won't even get that far because I'm going to go out on a limb here and venture if 99.9% of a currency disappeared, nobody would be using it because they would all be using something else already. Call me crazy
It won't even get that far because I'm going to go out on a limb here and venture if 99.9% of a currency disappeared, nobody would be using it because they would all be using something else already. Call me crazy
Half-life would refer to the time in which a value drops by half. It does not address something disappearing entirely. Your use of the term has no relavence to Bitcoin. In fact, losing half of the Bitcoins or even 99.9% can be a good thing because it makes the rest of the Bitcoins more valuable and hence more desirable to work for and acquire.
Because there is a hard cap on the quantity of bitcoins, it is a mathematical fact that one day, there won't be anymore bitcoins. Either that or the currency will fail first.
Statistically, the btc supply, like radioactive material, has a halflife. Over a certain period of time, half of them will disappear.
This will happen over and over again until the btc economy is dehydrated beyond any use or they are all gone.
The length of the halflife is determined by the statistical rate on average that people collectively lose coins.
This loss is due to forgetting brain wallets, paper wallets going through the washing machine, paying nonexistent addresses by mistake, loss of private keys through human or computer malfunction, dying without revealing private keys, destroying coins purposefully for reasons of spite or insanity, and probably other ways that unfortunate people will haplessly invent.
Ceaselessly increasing the subdivision of the coins just to avoid this total disappearance is farcical.
I don't know what that halflife is, but it is a finite amount of time. I'm just saying.
Statistically, the btc supply, like radioactive material, has a halflife. Over a certain period of time, half of them will disappear.
This will happen over and over again until the btc economy is dehydrated beyond any use or they are all gone.
The length of the halflife is determined by the statistical rate on average that people collectively lose coins.
This loss is due to forgetting brain wallets, paper wallets going through the washing machine, paying nonexistent addresses by mistake, loss of private keys through human or computer malfunction, dying without revealing private keys, destroying coins purposefully for reasons of spite or insanity, and probably other ways that unfortunate people will haplessly invent.
Ceaselessly increasing the subdivision of the coins just to avoid this total disappearance is farcical.
I don't know what that halflife is, but it is a finite amount of time. I'm just saying.
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