Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Copetech
on 29/06/2021, 23:12:51 UTC

But anyway, I was fond of his entertainment persona. That will be missed. And I don't think it was a suicide. Smiley

I wonder what will happen to all his coins... ?? .... Huh  Huh  Huh  Roll Eyes  Roll Eyes


And this is something I've been pondering recently... A maybe yet to be realized mitigating factor in the long-term course of this new currency.
We've already mentioned coins lost to forgotten keys and typos... but what about the generational wealth transfer that breaks down far more often than it succeeds as our first generation of HODL'ers fail to properly secure a means of passing coins on in the inevitable unfortunate demise.

With paper Fiat it's not uncommon to find out years later that old Uncle Festus had hidden thousands of $$$ under his floor boards. Or that Grandpa Irving had an old savings account or safety deposit box with forgotten fortunes waiting to be claimed.

But if a whale dies in an untimely manner, all those coins are likely to be gone forever. And as a first generation of sharks, fishes and even the thousands of shrimp age out and pass, how many coins are burned on a funeral pyre with no means of recovery? Sure we know BTC is deflationary, but this could bring in a whole new magnitude of deflation that I'm not really sure has been recognized.

Once they're gone, they're gone... right?