Hi all, I am a newbie in Bitcoin. I have a stupid question that what is the impact if most of the users lost their wallets?
To my understanding, the number of Bitcoin issued is a fixed amount, if the situation mentioned above happens, what is the impact to the hope ecosystem of Bitcoin?
That is a good question. If 1/2 of the users lost their wallets, the developers would probably try to understand why. But in terms of valuation, I think the price would gradually increase due to the decrease in supply. That's based on the assumption that whatever is broken gets fixed.
People lost their bitcoin not because of something broken lol.
They throw away / format their computer before making backups.
They forget the long password used to encrypt their wallets.
They keep their paper wallets in a "safe place", and they somehow can't find it afterwards.
... ...