Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I found this story fascinating:

Apparently, there was a 'bug" (or rather technically undefined area) in the original bitcoin code that would produce ANOTHER 21 mil btc starting in the year 256 from the get-go.
The "bug" was eradicated in BIP-42, which was done post-Satoshi.
Without BIP-42, rewards of 50BTC would restart in 256 years, then halvings would continue again (from 50btc/reward to down).

A bit of 'conspiracy' theory on my side, but how do we know that this was not the Satoshi's intent?
I keep reading about 4 mil 'lost" already in just 14 years.
What if Satoshi surmised that this loss in 256 years (with issuance stopping by year 2140) would bring available bitcoin numbers too low and actually designed the "bug" to revitalize bitcoin about a century after. Interesting, but would not affect things in our lifespan, perhaps.

See the discussion of BIP-42 here:
https://www.reddit.com/r/btc/comments/4r878s/in_case_you_missed_it_two_years_ago_bip_42_is/

You have a relatively creative imagination, yet what you are describing could not have been Satoshi's intent.

It does not make any sense to start the issuing of blockrewards over again at 50 coins per ever 10 minutes... that would really fuck up incentives and overall value... so that's a bug.. not a "hidden - true intention" of satoshi.

Regardless, if the situation that you describe ever happens, there will be future BIPs that will take care of it, in a carefully planned and controlled manner, respecting the consensus rules, as has happened in the past. After 14+ years of near-perfect, proven performance, I do not fear the scenario you describe. The code will adapt as needed and when needed.

Well, if BIP-42 took care of a problem that would not have occurred until 256-7 (in 2016)=249 year from 2016, then why not determine how much is actually lost and the rate of current loss, maybe each 10 years going forward?

Knowing this parameter, you would project when all would be lost and then count backwards and start putting in those "future BIPs" you are talking about.

It's very well may be that this needs to be done rather soon (maybe 10-20 years).