There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.
This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.
Is this correct?
Bitcoin has its own measurements, the smallest unit being in Satoshi, just like the smallest unit of a dollar is called cents. So Im guessing that even if there are lost Bitcoin, the only effect it will have is that the market price will become more high than it is now. Although I dont think thats ever going to happen, but whatever it maybe, there will always be a way to solve it.