Bitcoin Forum
September 26, 2017, 09:37:18 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Does this make any sense (from BC myths)  (Read 560 times)
zorbus
Newbie
*
Offline Offline

Activity: 10


View Profile
March 02, 2012, 09:52:03 AM
 #1

Found this from the BC myths. I don't think this part makes any sense at all.

Quote
Lost coins can't be replaced and this is bad

Bitcoins are divisible to 0.00000001, so this is not a problem.

How is divisibility even related to this replacement issue?

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1506418638
Hero Member
*
Offline Offline

Posts: 1506418638

View Profile Personal Message (Offline)

Ignore
1506418638
Reply with quote  #2

1506418638
Report to moderator
1506418638
Hero Member
*
Offline Offline

Posts: 1506418638

View Profile Personal Message (Offline)

Ignore
1506418638
Reply with quote  #2

1506418638
Report to moderator
deepceleron
Legendary
*
Offline Offline

Activity: 1512



View Profile WWW
March 02, 2012, 10:21:55 AM
 #2

Bitcoins aren't really "lost", they just aren't sent to anybody else again, because the owner lost the wallet keys necessary for sending them or lost interest in Bitcoin before they knew what they had.

The assertion that this would be a problem would be from people that think this would create a constantly shrinking money supply, and therefore there wouldn't be enough for anybody who wants Bitcoins to have them. This is not true, because Bitcoin can be divided into units so small that if the final Bitcoin money supply was divided among everyone in the world that may have a computer (1 billion), they could each have 2,100,000 base units, more than enough to do commerce.

zorbus
Newbie
*
Offline Offline

Activity: 10


View Profile
March 02, 2012, 10:28:24 AM
 #3

Now I get what they mean. Thanks.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!