When will we hit a critical point at which there's just too many lost bitcoins due to someone loosing their wallets, dying or corrupted hard drives and etc? At some point this is bound to happen right?
I know that for the time being, low circulating supply means that the coin will increase in value but how low can it get before it starts to give diminishing returns and actually inflict damage to the system? What would happen to crypto in general if all of the coins and altcoins will suffer the same ending?
that's why we have 8 decimals. 10.
87654321if more and more coins lost due to whatever reasons, we can use smaller unit/denomination
as of now the standard is
BTC, in the future when bitcoin very scarce we can say in term of m
BTC or u
BTC as standard
the exchange rate can be adjusted properly as needed too
imagine saying selling 0.001
BTC at rate $100,000 /
BTC,
wouldn't it be easier to say selling 1 m
BTC at rate $100 /m
BTCI also support your point of view. That one day we will find out that bitcoin is worth 1BTC= $ 1,000,000 . and 0.000001 BTC will be equal to$ 1/ That's when everyone who cried and said that bitcoin is dead and it's all a pyramid, will bite their fists that did not have bitcoins. Be patient waiting for your treasure. There will surely come a day when people in the digital world will understand the value of cryptocurrency and its main favorite-BITCOIN.