Re: This is why I believe bitcoin will crush in the distant future
You misunderstood the concept when someone has lost his bitcoins forever. It will actually help to make the remaining bitcoins rare because the supply is lesser.
And that means, a higher price for bitcoin.
And that means, a higher price for bitcoin.
Hmm, I smell an incredible price-jump in the future
All right. The fewer bitcoins circulating in the world, the higher the demand for them and, accordingly, the higher the price.
Obviously, over time, bitcoins will become smaller due to the fact that people will lose access to their private wallets or, as you said, in the event of death.
However, most of the people will surely be safe for this case, especially exchanges that own a huge number of bitcoins.
The bitcoin deficit will increase in a natural way, which will make this asset especially desirable.
I am sure there will be many more forks on this subject.
In case of death, I think we have our own plans of how we will introduce our private keys to our parents, children or immediate relatives. But, I'm not thinking of that, don't think of it so that we won't have worries in our minds which might be the actual reason why we'll be in stress.Obviously, over time, bitcoins will become smaller due to the fact that people will lose access to their private wallets or, as you said, in the event of death.
However, most of the people will surely be safe for this case, especially exchanges that own a huge number of bitcoins.
The bitcoin deficit will increase in a natural way, which will make this asset especially desirable.
I am sure there will be many more forks on this subject.