I propose a compromise. Since it is estimated by Seeking Alpha that 25% of all BTC is lost, https://seekingalpha.com/article/4082979-many-bitcoins-lost-forever, That 12.5% of BTX is removed from option 1 to account for the lost BTX and BTC. If you really want to be accurate I would say the circulating supply should be about 25% lower due small amounts never being claimed and the 12.5% Lost right off the bat.