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Author Topic: Dying bitcoins  (Read 9761 times)
Gabi
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September 18, 2012, 07:53:26 PM
 #21

True that  Cheesy
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September 18, 2012, 08:13:43 PM
 #22

But loosing 1 bitcoin in the ocean of a maximum of 21.000.000 coins seems significant to me, so not comparable to gold and jewelry.
So only 21000 losses of 1000 coins can happen. That's not much!
But remember that each bitcoins can be divided into 100 million pieces, as needed.

And the more valuable they become, the more careful people will be not to lose them.


AMEN!
By the time 1,000,000 coins have been lost, one coin might be worth $1,000,000 Smiley People don't tend to lose $1,000,000 worth of anything very often. There will forever be 20 million+ BTC in existence.
IMO if things continue to progress well it'll get harder and harder for people to lose coins as there will always be more and more technological innovation happening to prevents this.
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September 18, 2012, 08:38:46 PM
 #23

Why the hell every week someone must come up with the same fail idea?

It's not exactly the same. Most of my recent topics were made to find an answer for one important question. And I think I got it.

It's impossible to have consensus regarding protocol changes in Bitcoin. It's a win-or-lose game, no anything in between allowed. So next-gen coin should have a protocol that could be adjusted by anyone without breaking the whole system.
hazek
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September 18, 2012, 09:00:47 PM
 #24

So next-gen coin should have a protocol that could be adjusted by anyone without breaking the whole system.

We have that, it's called central banking and fiat currencies (FED + dollar, ECB + euro, and so on..)

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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September 19, 2012, 05:12:10 AM
 #25

The subdivision thing cures this entire problem.  Let's say 90% of all BTC are destroyed.  Now the value of 0.1BTC is approximately the value that 1 BTC used to be, since there are only that many floating around.  Life goes on.  We're not in trouble of "running out" until like 99.999% of all BTC are destroyed because then there actually wouldn't be enough to go around.
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September 19, 2012, 05:17:46 AM
 #26

So next-gen coin should have a protocol that could be adjusted by anyone without breaking the whole system.

We have that, it's called central banking and fiat currencies (FED + dollar, ECB + euro, and so on..)

Really? I'd like to increase emission of new dollar banknotes. What should I do?
kjj
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September 19, 2012, 02:55:06 PM
 #27

So next-gen coin should have a protocol that could be adjusted by anyone without breaking the whole system.

We have that, it's called central banking and fiat currencies (FED + dollar, ECB + euro, and so on..)

Really? I'd like to increase emission of new dollar banknotes. What should I do?

Wait a few minutes.

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Gabi
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September 19, 2012, 02:58:31 PM
 #28

+1 what hazek and kjj said
Come-from-Beyond
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September 19, 2012, 03:23:11 PM
 #29

+1 what hazek and kjj said

-1, coz no usefull info were provided.
kjj
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September 19, 2012, 03:28:24 PM
 #30

+1 what hazek and kjj said

-1, coz no usefull info were provided.

You said you wanted to "increase emission of new dollar banknotes".  This is something that congress already does to you today.  If you aren't happy with the current rate of emission, just wait a few minutes and it will be higher.

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Phinnaeus Gage
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September 19, 2012, 03:39:12 PM
 #31

But loosing 1 bitcoin in the ocean of a maximum of 21.000.000 coins seems significant to me, so not comparable to gold and jewelry.
So only 21000 losses of 1000 coins can happen. That's not much!
But remember that each bitcoins can be divided into 100 million pieces, as needed.

And the more valuable they become, the more careful people will be not to lose them.


Exactly, for if all twenty-one million coins were lost, sans one, that one bitcoin can still be divisible even beyond the hundred millionth mark.

~Bruno~
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September 19, 2012, 04:31:41 PM
 #32

You said you wanted to "increase emission of new dollar banknotes".  This is something that congress already does to you today.  If you aren't happy with the current rate of emission, just wait a few minutes and it will be higher.

I expected other scenario. Without mediators. But thx anyway.
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