Topic: UPDATE (Read 5506 times)
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
In terms of usability probably it doesn`t affect too much, But in economic question would be analyzed more carefully.
Suppose for example that someone decides to buy all BTC existing and pay all marketcap entire for it , how many should receive? Without going any further the mega-buyer it would have to know how many actually exist in circulation and have not been lost to ensure that all are delivered to him/she. This is just a hypothetical case belongs rather to the theoretical field. It may sound farfetched now but it could be the case that this can become real some day.
Exactly said such scenario would take place only if the Bitcoin is made centralized. Only if bitcoin is adopted by a very big corporate the quote by above mate will take place.
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
In terms of usability probably it doesn`t affect too much, But in economic question would be analyzed more carefully.
Suppose for example that someone decides to buy all BTC existing and pay all marketcap entire for it , how many should receive? Without going any further the mega-buyer it would have to know how many actually exist in circulation and have not been lost to ensure that all are delivered to him/she. This is just a hypothetical case belongs rather to the theoretical field. It may sound farfetched now but it could be the case that this can become real some day.
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
I hope with the price going up some of the hodlers with lots of coins will gradually exchange BTC for cash. This will slowly and continuously redistribute the coins to new users. As for Satoshi's fortune, I guess we can forget about them. Most likely Satoshi will keep the as "it is". However, even the coins are moved eventually, I am sure the effect will only be short term.
I think those people will make some use of the bitcoin, for example buying a house. So their holding will reduce in long term.
I hope with the price going up some of the hodlers with lots of coins will gradually exchange BTC for cash. This will slowly and continuously redistribute the coins to new users. As for Satoshi's fortune, I guess we can forget about them. Most likely Satoshi will keep the as "it is". However, even the coins are moved eventually, I am sure the effect will only be short term.
How could it be a danger? it'll only reduce btc supply hence increase btc price!
I also think the lost coin will make the remaining coin much more valuable as the supply has reduced. So price should rise.
Millions were lost due to transaction collapses. And a part of the generated bitcoin is in the hands of few people. In the second part half is accumulated. Now big companies are planning to enter who may own the remaining part which finally be a danger zone for common men as said.
How could it be a danger? it'll only reduce btc supply hence increase btc price!
They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more. 
If there are 10 million of users of bitcoin in a few years, on average, they will have no more than 2 bitcoin each.
They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more.
The Lost bitcoins shouldn't matter in the end, just lowers the supply for the demand. However when people who have invested into a currency back out, then the value of it goes down.
There is really no way to know how many are lost. Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?
I think there is no way to know and there was a discussion already done here[1] .It does effects the price if it is happening too often or has happened with a large amount of btc's and IMO this was pretty much expected when it was created,so not much to worry bout.[1] https://bitcointalk.org/index.php?topic=1097562.320
I've wondered about the lost bitcoins. Separate from the stolen (hacked) bitcoins, there are always going to be people that lose their private keys or die and nobody knows the private key and those coins are lost forever. There is really no way to know how many are lost. Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.
Gold is mainly the store of values, or an investment. Bitcoin is both an investment and a currency. You can use it.
I was wondering if this two factors:
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $
Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
The millions lost be Gox where stolen not lost and yes the millions in the hands of the few could be a problem if they dumped them all at once, but i reackon they would get very little for them if that was done as the price would crash before they offloaded them.
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
if it dropped from 1000$ to the current level, who knows what can happen next?
bitcoin will have always high price now 380$ and it will be higer and higer the price maybe will drop a little but then it will raise Jump to: