Post
Topic
Board Development & Technical Discussion
Re: A proposed solution to adjust for lost Bitcoins: wallet 'heartbeats'
by
cschmitz
on 25/06/2011, 17:26:53 UTC
As we all know, the true number of Bitcoins in circulation will always be some unknown number less than the total number of Bitcoins mined. This is not ideal. Wallets can be lost, deleted, or the underlying media on which they are stored on can be damaged beyond recovery.

Are Bitcoins in it for the long haul? Or are they just a five year experiment?


You assume that bitcoin has a problem with availability or granularity. Both is horribly false in the forseeable long term future.
The price of a bitcoin unit of a certain deciaml within the p2p accounting system is set via supply and demand and zero via regulation, which is a key selling point of bitcoin.
You are trying to add an automated regulation mechanism to solve a problem that doesnt exist, a very uncompelling case.


That is, if it's not too tricky for you. Wink

You have been around for a week, maybe some humility would help?