Quote from: konstantin718 on December 15, 2013, 04:42:13 AM

Quote from: jellies on December 15, 2013, 03:36:35 AM

If you think of someone losing access to a wallet with 100 bitcoins in it, then there is subtle deflation from time to time already, as it would take half an hour to replace that loss but the loss happens instantly.

Wait a min! Replace that loss? Once the private key is lost, any "coins" (really, transactions in the blockchain) encrypted by that private key are "gone" (really, frozen from being spent) forever, there's no replacing them.

I think he means replace in the sense that that amount of BTC is mined in half an hour.

Also, someone above said that the target time between blocks is 8 minutes. I've heard about it being 10 minutes, any idea on what is the correct one?