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241  Other / Beginners & Help / Re: Restoring Lost Bitcoins on: October 18, 2011, 01:17:25 PM
Quote
The solution is to define an expiration period for bitcoins
NO

Quote
The expiration interval could be a very comfortable one, say, 10 years.
NO




No? Why?

Since there is no way of telling idle bitcoins from lost ones, the only way I see to tell them apart is forcing the idle ones to "show up" before some "deadline," and if they don't, then expire them. If not, then please let me (and the others) know why not.
242  Other / Beginners & Help / Restoring Lost Bitcoins on: October 18, 2011, 11:47:06 AM
Hi,

Here is a way of restoring lost bitcoins.

By design, it is impossible to tell idle bitcoins from lost ones. However, with time, there will be an increasing number of lost bitcoins, which will further increase Bitcoin's inherent deflation unnecessarily. How to avoid that? The solution is to define an expiration period for bitcoins, after which any public key that does not reappear in the block chain will expire. Then the Bitcoin client must have functionality to resend those bitcoins to their current wallet (or to any other wallet) before they expire (the client could periodically verify and warn the user, asking what to do). The expiration interval could be a very comfortable one, say, 10 years. After their expiration, the network nodes can mine those expired bitcoins again, so mining remains residually alive.

Please comment on that one.
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