Re: Proposal to Address Dormant Bitcoin:Recycling Lost Coins into the Mining Process

Quote from: Wind_FURY on July 30, 2023, 07:45:08 AM

I'm not judging OP, and what I'm going to say is nothing against him nor am I trying to offend him. BUT, I'm starting to believe that laughable topics such this are mere 4D Chess moves made to start a debate and see if it catches many people's attention. Perhaps "some people" hope to see some gaslighting in the discussions to happen? Haha. Cool

What recycling of "dormant coins" actually does is KILL Bitcoin's immutability. Moderators should probably lock the topic and stop the naivety of the proposal.

No, it's not that laughable at all. If we keep in mind that people don't take care of their wallets and use service like Ledger Recover, then we can say that number of lost bitcoins will grow in near future. At the same time, if demand on bitcoin tremendously rises, that will also mean that a lot of new people won't be able to keep wallet/coins safe and they'll lose them too. One can say that we may reach the condition where there will be very high demand but not enough coins. Imagine, Binance loses its reserves, which is about half a million bitcoins or hackers steal thousands of bitcoins multiple times but burn every proof, including wallet key/seed before their arrest? Everything can happen.

Quote from: Upgrade00 on July 31, 2023, 10:19:53 PM

100,000BTC is a huge chunk of the total 24hour trading volume. If a previously dormant wallet became active and sent them to an exchange address, it could influence the market slightly. If it was traded on an exchange and not done OTC it will also have an effect on the market.

But the influence will be short-lived and likely have a less than 1% impact on the price

100,000 BTC owner won't be stupid enough to send all of them to exchange address. Oh my god, it's even riskier to send 10 BTC because what are you going to do if exchange blocks your funds for some unreasonable reason?