Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Deflation
by
stompix
on 06/03/2023, 09:03:16 UTC
I don't know, is this even possible?

Yes, it would be possible to implement, but the moment it does happen you can count Bitcoin as dead, and this time for sure.

Furthermore, it's quite funny that OP thinks we should re-add coins that have not moved for 131 years and that would be a solution but what will happen 108 years from now, when there is still one year before the great reset? It's highly possible that the amount of coins lost for sure, dust left rotting in deleted wallets and so on would already be half of the coins in circulation so what help would that be if we already have gad decades of less than 21 million moving coins behind us?

The use of the word "steal" remains improper. The coins subjected to this process of recycling would be the ones of "dead" wallets, i.e those wallets that have been inactive (no transaction) for a period equal to the full mining cycle (131 years). This same thing happens in nature. The universe doesn't steal energy from dead bodies, it recycles that energy channeling it back into the system. Bitcoin has a curious habit of mimicking nature when it comes to energy, except for recycling. Energy is never permanently lost in nature, it just transforms from one form to another. It seems that bitcoin neglects the recycle of lost money/energy back into the system.

So, you have the right of stealing the banknotes I keep in my safe after around 200 years when polymers start degrading but despite that seems like you have no right to "recycle" the gold I bury in my garden since gold doesn't degrade. Funny how sometimes nature can be a bitch and stops mimicking human activities exactly when you need it more.

It's stealing! You have no right to take over my coins, simple as that!
Just as you can't enter my house and grab a painting because the museums are running low, you can't touch my coins!