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1  Economy / Economics / Re: Lost money? on: April 17, 2011, 06:30:40 AM
When rich people die and don't leave their bitcoin info, over time that will cause deflation. You're right that, currently, it can't be a problem. If we do need to change bitcoin's precision in the future, will it be possible?
2  Economy / Economics / Re: When People loose their wallet, do Bitcoins get lost forever ? on: April 17, 2011, 06:25:27 AM
Right, as Bitcoins are lost, the rest of them will gain in value and therefore can be divided in smaller and smaller increments.

So even if 20,999,999 become lost, the last 1 BTC will still be enough to run the whole economy.

(And then I'll be rich, because I just happen to find some of my lost coins).


It won't be. That's 1 billion units left. if there's 100 million bitcoin users, assuming wealth was perfectly spread, they could only have 10 units each. If 10 units is their life savings, there wouldn't be a denomination small enough to buy a candy bar.
3  Economy / Economics / Re: Lost money? on: April 17, 2011, 06:10:07 AM
The first topic has a good point. I don't see this currency being scalable to the world market. What happens when billions of people use it and people want to trade for smaller denominations than the system allows? It's definitely "good enough" for now, but I worry about the large scale applications of it.
4  Economy / Economics / Lost money? on: April 17, 2011, 04:32:53 AM
I just found out about bitcoins, so you'll have to excuse my potential ignorance. Can bitcoins be removed from the economy be becoming "lost?" I heard that your "wallet" is stored as a file on your computer and can be deleted (or stolen?). Is this true? If so, what happens to the bitcoins?
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