Post
Topic
Board Beginners & Help
Re: Can bitcoins be lost?
by
myrkul
on 25/06/2011, 20:33:12 UTC
Check your premises.

If the rest of the world assumes that there are 1000 Bitcoins out there, and I assume that there are 21 million, Prices would be lower than my expectations. I would be able to buy even more than I expected with the bitcoins I had.

...I don't see a problem with that.
...
And when you want to sell one hour of your time for 1BTC and everybody say no, it worth only 0.0000001 BTC. What will you do ?

If everybody think there is 21 000 000 BTC in world and there is only 1 000. What will happen ? BTC will be really rare, so they will worth a lot. It's stupid to assume there is 21 000 000BTC. You must only watch the flows and adapt to them.

I will either work for 1 satoshi an hour, or I won't work. More likely, though, I'll find someone willing to pay more, even if it is less than what I was asking.

As the recent instability has shown, It's stupid to think the bitcoins you see are the only ones there are.