Quote from: Ojima-ojo on August 11, 2023, 08:19:02 PM

Quote from: JayJuanGee on August 10, 2023, 02:37:47 PM

Oh gawd..

Which one is worse? Ojima-ojo stating that satoshi lost 15 million bitcoins or your (adultcrypto) repeating such nonsense as if there were some kind of a possible basis in such nonsense when I already stated that the number of BTC that satoshi had was/is somewhere in the 1 million BTC or less territory.

The bad @JayJuanGee I should get my memory checked or maybe my brain is thinking one thing and my keyboard typing another thing but in all, I accept the mistake of allocating the wrong figure to satoshi Bitcoin starch, between I believe that in the end, you were able to get the point I was trying to make on unspendable Bitcoins which are locked in either satoshi wallet or other wallets that owners may have lost access to either by way of losing the wallet private keys.

First, we must intentionally continue to work on improving our securities and preventing loss of access to our Bitcoin assets either by way of losing the wallet private keys or losing the wallet to hackers, and also we expect that shortly, we could see new wallet development that can give it users the ability to use other features to trace, track and control the access to their wallet even if there have no access to the wallet keys.

I agree with you that there are more and more tracking tools that are available (even for people who don't have keys to wallets), and so there could be some usages for tracking when coins move that can help us to determine how scarce the BTC supply might be in terms of when the coins were last moved - however, at the same time, these are still likely probability calculations more than anything, and there could be quite a few kinds of circumstances in which coins do not move, but the key has not been lost and someone actually has the ability to move the coins but has chosen not to.

Quote from: Ojima-ojo on August 11, 2023, 08:19:02 PM

If such development exists, there will be lesser loss of wallet and minimal unspendable Bitcoin in dead wallets, because losing those Bitcoin forever may breed a high scarcity of Bitcoin in the future and the inability of newer members to be able to accumulate Bitcoin all the way up just like we are doing right now.

This seems like a pretty lame point that you are making because scarcity does not necessarily result in lack of liquidity, especially since we are dealing with a divisible asset, and even though on the blockchain, bitcoin is ONLY dividable down to 8 digits, the lightning network has already allowed for going down to 11 digits, and even on the main blockchain, such softforks to allow such further divisions seems like it would not be difficult to pass.. and I am pretty sure that it could be a softfork, even though I don't claim to have any kind of technical prowess.

Anyhow, I guess my point here is that anyone can get bitcoins, and sure they likely are going to cost more when they are even more scarce than we might have had otherwise thought them to be, and then surely if a million coins all of a sudden move (or unlocked), then the circulating supply of bitcoin becomes less scarce at that point, even if those bitcoin had previously been known but then had been speculated to have been without keys.. and also in that regard, there could be some coins that end up getting their private keys hacked because they are stored in such a way that the keys can be discovered, and surely those kinds of change of ownership may well end up having affects on bitcoin's known circulating supply...

so yeah, even with all of satoshi's coins becoming available (or getting hacked into), whether that is 500k or 1.5million BTC, there would likely be some short term, and perhaps even medium term shocks to the supply and perhaps even perceptions of the vulnerability of the private keys of the supply to get discovered, but at some point, the BTC prices would move back to some kind of an equilibrium.. whether at lower prices than previously or not. None of that means that people are more or less easily able to get BTC, even if they might have to buy less of an amount, and sure all people (whether poor or not) are likely not going to be able to buy as many BTC in the future as they are able to buy now with the same amount of cash... but what else is new...

Right now, you can buy $1 million worth of bitcoin or you can buy less than 1¢ worth of bitcoin...and even if satoshis go up to costing way more than 1¢ per satoshi, they still can be divided further, and are currently being divided into 1,000ths (on the lightning network), and could be divided further in the event that liquidity becomes a problem... it is the infinitely divisible issue that does not make the units less valuable, but it makes them ongoingly divisible to the extent that such divisibility might be needed in order to address possible liquidity issues.