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Title: When BTC hits 21M, how will the system balance the lost BTC in lost Wallets? Post by: digital_sucrose on September 21, 2016, 10:57:48 PM Almost everyone knows that there will be no more BTC to mine after the last of the 21,000,000 BTC have been mined but, how will the system/ the public take into consideration the lost wallets with all those precious BTC in them. Is there a way to know for sure how many BTC's have been lost? Will this be taken into consideration when it comes to the price of BTC?
Thoughts? Title: Re: When BTC hits 21M, how will the system balance the lost BTC in lost Wallets? Post by: xhomerx10 on September 21, 2016, 11:18:13 PM Almost everyone knows that there will be no more BTC to mine after the last of the 21,000,000 BTC have been mined but, how will the system/ the public take into consideration the lost wallets with all those precious BTC in them. Is there a way to know for sure how many BTC's have been lost? Will this be taken into consideration when it comes to the price of BTC? Thoughts? You have pretty much answered yourself. There is no way to know how many have been lost hence, no way take this into consideration when calculating market cap. The price of BTC is market driven. Title: Re: When BTC hits 21M, how will the system balance the lost BTC in lost Wallets? Post by: Kakmakr on September 22, 2016, 05:35:02 AM Bitcoin's price is determined by supply and demand. If the supply side dry up, the theory is that the price will go up, depending on if the demand stay the same. The lost coins are impossible to identify, because nobody knows if unused coins are hoarded or lost.
The blockchain or the protocol cannot spot the difference to rectify or to balance out the situation. Bitcoin was developed to be like gold, where the token scarcity has a influence on the price. ^smile^ Title: Re: When BTC hits 21M, how will the system balance the lost BTC in lost Wallets? Post by: shovon234 on September 22, 2016, 06:13:20 AM Bitcoin's price is appreciative by supply and demand. If the supply side temperate occurring, the theory is that the price will go going on, depending regarding if the request stay the same. The drifting coins are impossible to identify, because nobody knows if unused coins are hoarded or floating. Title: Re: When BTC hits 21M, how will the system balance the lost BTC in lost Wallets? Post by: interbtc on September 22, 2016, 06:20:16 AM It will take quite some time for bitcpoin to be miner,after which miners will get rewarded with fee's,however lost btc will not be added additional because there is no need to. Bitcpin is so much divisible that it would continue on even if majority is lost,the only thing that would change ia the price,which is a good thing for us jolders.
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