Post
Topic
Board Beginners & Help
Re: Destroying bitcoin, by coin, by coin...
by
NghtRppr
on 06/07/2011, 18:16:36 UTC
Ok. Have 10 people and 10 pies. We give everyone a pie.
Now 8 pies get lost. Some get eaten, one pie was encrypted and the key got lost, another one's fridge was hacked and his pie deleted, a pie was dropped on the floor, etc etc.

We divide  every remaining pie into 10 pieces. One guy didn't lose his pie, he gets to keep all 10 pieces. The other 10 pieces are divided evenly over the other 9 people and piece gets destroyed by me, just cos I can. And pie makes me fat.
We have 10 times as many "items of pie". We performed a digit shift on the pie basically... Yet now one guy has half of all items of pie available, while he only had 1/10 earlier.
Still think shifting the digit will solve bitcoins getting lost? Wink

You missed one thing. Since the remaining BTC are more valuable it's similar to making the remaining pies bigger. Those 8 pies that get lost are actually causing the remaining pies to get bigger. The pies have to get divided up into more pieces but the pieces themselves are bigger so everyone ends up with the same amount of pie as before. You've done nothing in the long-term.