Post
Topic
Board Beginners & Help
Re: Can bitcoins be lost?
by
ascent
on 25/06/2011, 02:06:58 UTC
The Bitcoin currency was designed to be deflationary.  Most other fiat currencies are inflationary.  What that means is with Bitcoins, the longer you save, the more valuable it would become, so long as the currency succeeds and people trust it.  With most other currencies that aren't backed by anything but trust, they can print as much money out of thin air as they want, so long as trust is maintained.  However, saving money with these inflationary currencies means you'll lose money the longer you save.  Right now many worldwide fiats are becoming more fragile and trust is gradually being lost as countries try to print more money to bail out the rich people, allowing them to maintain their wealth with the newly printed money while everyone else gets devalued money in return.  The disparity between rich and not rich has widened at a greatly accelerated rate since the economic collapse.
jollyjim,
Could someone dump 6 billion Bitcoins on the market right now? You and I both know the answer to that.

In the far future, when for many years, it appears that only 1,000 Bitcoins are in circulation, the rest presumed lost, could someone dump a million Bitcoins on the market?