I like the idea of only having 21 million bitcoins.
Bitcoins get lost all the time, lost private keys.
In time we will have fewer and fewer bitcoins, currently it is thought 3-4 million bitcoins are already lost. This makes me sad.
Bitcoins get lost all the time, lost private keys.
In time we will have fewer and fewer bitcoins, currently it is thought 3-4 million bitcoins are already lost. This makes me sad.
Hmm, You are really kind haha bro demand and supply if the demand is more and supply is short falling it will directly increase its valuation. I could be feeling bad for the BTC (Lost Bitcoins) if we were able to transfer only 1 BTC at a time. We all know the the strong Granularity of Bitcoin so nothing to worry.
I propose a redistribution method:
>If an address did not have any activity in let's say the last 100 years the address is considered lost and the bitcoins are free to be mined in the next block.
To prevent losing your bitcoins you make sure to transfer them to a new address every 100 years (I am not aware of any other method of "proving" you still have access to an address).
>If an address did not have any activity in let's say the last 100 years the address is considered lost and the bitcoins are free to be mined in the next block.
To prevent losing your bitcoins you make sure to transfer them to a new address every 100 years (I am not aware of any other method of "proving" you still have access to an address).
Hmm, Decent ideology but who is gonna live 100 years are you are gonna live that much time in this minor world.
P.S. This would be a change in the consensus mechanism, I know 
P.S.S. I am aware of Satoshi's view on this "lost coins are a donation to everyone". Yes, but 4 million is a lot, do we want Bitcoin to still be used 1000 years from now? If this trend continues most if not all bitcoins would have been lost by then.
P.S.S. I am aware of Satoshi's view on this "lost coins are a donation to everyone". Yes, but 4 million is a lot, do we want Bitcoin to still be used 1000 years from now? If this trend continues most if not all bitcoins would have been lost by then.
Paper currency was the past digital is present and Bitcoin is the future but a time will come when Bitcoin is gonna be Present and Future will be X.