Irrespective of rank I believe am still learning in gradual steps about bitcoin and therefore have this question to ask, it would be of good consequence for me if am well enlightened on this particular subject about bitcoin. So just in case, someone I might want to talk to about bitcoin for the very first time happens to ask me I can comfortably address it too.
Question:
I have read few posts of persons talking about losing their wallet's containing BTC and couldn't recover it at all. Hence, as people keep losing their BTC due to loss of wallet seed phrase, can it affect or cause a decline in BTC supply entirely?
It's dope to see you're curious about Bitcoin, and I'm stoked to drop some knowledge on you. About your question, it's true that some peeps have lost their BTC wallets, and that can be hella frustrating. But losing wallets doesn't have any effect on the total supply of BTC. The supply of Bitcoin is predetermined and fixed, and losing wallets only reduces the circulating supply. Make sure to stash your seed phrase in a safe place and be cautious about security measures to dodge such losses.
Bitcoin is a real game-changer of a technology, and you gotta know how to use it and keep it safe. By stashing your seed phrase in a secure spot and taking the right precautions, you can avoid any major losses. And remember, the price of Bitcoin can change in the blink of an eye, so make sure you're keeping an eye on the market and investing your money smartly.