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Author Topic: Make Bitcoins "dissolve" after some time if not used?  (Read 2996 times)
Nesetalis
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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

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Nesetalis
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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.

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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.

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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.
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