Post
Topic
Board Economics
Re: "I don't want to make early adopters rich"
by
tonto
on 20/03/2014, 16:10:07 UTC
You don't only need early adopters for such statement, you need early adopters who cared at all about they wallets through all of this time. Some people might have mine a lot of bitcoins in 2009 for fun and forget about them .

I guarantee this is the case.  While 21 million will be mined, I'm sure a lot of those early coins are gone due to loss of the private key.  How much we'll never know but I think it's more than people realize.

This happened to me with name coin (which, btw, is an awesome idea and complement to bitcoin).  I had a miner doing name coin for the web value, and at some point I stopped mining.  I kind of forgot all about it.  Fast forward where I realized name coin was trading over a dollar (I forget what it is now, like 2 and half or something?) and I realize "oh shit I never backed up my name coin folder".  500 name coins gone, *poof* vanished.  Oh there're out there I s'pose, out there in the nether, but it's 500 i'll never be able to use *sigh*  Smiley