Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
machasm
on 02/06/2014, 17:47:51 UTC
from reddit: http://www.reddit.com/r/Bitcoin/comments/273vi2/if_you_just_received_800_bitcoin_out_of_the_blue/

Quote
I messed up big time. I sent this address 800 bitcoin:
113MmkyjjH6zS9VMvbwrhBNoMe6upzdvNC
https://blockchain.info/address/113MmkyjjH6zS9VMvbwrhBNoMe6upzdvNC
I had previously sent this address 300 bitcoin a year ago, and for the life of me I cannot remember what that was!
Any and all help appreciated.

another lost 800 bitcoins lost beside the 850K that we thought mtgox had.... well I don't know why BTC shouldn't be worth $5K already.


Ouch, that's painful to read.

What would happen if, over time, Bitcoin was adopted on a wide enough scale that these sort of errors happen relatively frequently where people accidentally kept sending BTC to long lost addresses?
The remaining supply would dwindle and since you can never have any more than 21 million created wouldn't we get to a point where so few existed that it would make trading non viable?