Bitcoin Forum
December 10, 2016, 08:56:40 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Make Bitcoins "dissolve" after some time if not used?  (Read 2645 times)
Nesetalis
Sr. Member
****
Offline Offline

Activity: 420



View Profile
May 17, 2011, 10:29:52 PM
 #21

aye. I was referring to a digital bank... i'm sure after 2 years or so without account activity, the bank would try to get ahold of the owner... fail... take the account down, archive it, and liquidate the stored bitcoins :p

ZOMG Moo!
1481403400
Hero Member
*
Offline Offline

Posts: 1481403400

View Profile Personal Message (Offline)

Ignore
1481403400
Reply with quote  #2

1481403400
Report to moderator
1481403400
Hero Member
*
Offline Offline

Posts: 1481403400

View Profile Personal Message (Offline)

Ignore
1481403400
Reply with quote  #2

1481403400
Report to moderator
1481403400
Hero Member
*
Offline Offline

Posts: 1481403400

View Profile Personal Message (Offline)

Ignore
1481403400
Reply with quote  #2

1481403400
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481403400
Hero Member
*
Offline Offline

Posts: 1481403400

View Profile Personal Message (Offline)

Ignore
1481403400
Reply with quote  #2

1481403400
Report to moderator
1481403400
Hero Member
*
Offline Offline

Posts: 1481403400

View Profile Personal Message (Offline)

Ignore
1481403400
Reply with quote  #2

1481403400
Report to moderator
Nesetalis
Sr. Member
****
Offline Offline

Activity: 420



View Profile
May 17, 2011, 10:37:21 PM
 #22

you might be right... if the account numbers are stored from the beginning until then... lost data could mean no reference to unused transfers.

ZOMG Moo!
MoonShadow
Legendary
*
Offline Offline

Activity: 1666



View Profile
May 17, 2011, 11:14:36 PM
 #23

As long as 8 digits isn't a hard limit, there's no problem at all. It's just that I haven't seen the code and I don't know how deeply embedded the 8 digit limit is in the system.

Yeah. The 8 digit limit is only in the official client, not in the protocol. You could write your own client to transfer a tenth or a hundredth or a zillionth of a satoshi if you wanted to. The designers probably chose 8 digits because they assumed that the client would be getting updated between now and bitcoin getting big enough to need more precision. Probably a safe assumption. At present, allowing more than 8 decimal places would really just be a waste of effort and memory.

Actually, the limit is part of the protocol, in effect.  It's an artifact of choosing a 64 bit integer to store the transaction values.  It can be overcome, however.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
May 18, 2011, 05:31:38 AM
 #24

Making coins dissolve serves no good purpose. If coins are lost or go to waste, that hurts nobody but the holder of those specific coins. Holders of all other coins benefit from the reduction in coin supply as their coin value increases. The economy doesn't care, as prices merely re-adjust to the new quantity of money. I suppose it would hurt debtors because the value of the currency the owe has increased, but that's a great reason to not be a debtor =)

And, if Bitcoins truly respect property rights, then I have the right to sink my coins to the bottom of the ocean forever. Usage ought not be a pre-requisite of ownership.
Pages: « 1 [2]  All
  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!