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?
If mankind can make something better and more convinient than bitcoin then youre right. This is for the fact happening right now where people invent something better than fiat. People will not accept it at first because of denial but eventually end up using it because of the need for improvement.
good or not, I think back to the government and the people who judge it. indeed, at present bitcoin is created because of technological developments, but it can be difficult to step if it is hampered by the government. and when the bitcoiner lost trust, it was feared that a bubble would occur