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Author Topic: What about the Bitcoin lost?  (Read 2284 times)
Lumpy
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June 24, 2012, 12:57:03 AM
 #21

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ErebusBat
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June 24, 2012, 02:47:43 AM
 #22

I was just Rick rolled by bitcoins :/

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knight22
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June 24, 2012, 05:34:38 AM
 #23

If we think about a very long term for Bitcoin. Over time, if we accumulate all the bitcoin lost by people who lost their wallet. There will be no more bitcoin in circulation. I think it would be a good idea to force people to spend their bitcoin in, let's say 25-30 years. If not spent, the bitcoins will be spread in the community. This would also prevent super maniac savers who would die with their super saving of bitcoin.
NO

Go elsewhere to try to steal our money.

In case it is not clear: NO

And NO, it is NOT a good idea, it is a retarded idea.


You felt aim by my "super maniac savers" or what? Nothing about stealing any money here.

drakahn
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June 24, 2012, 05:35:47 AM
 #24

If we think about a very long term for Bitcoin. Over time, if we accumulate all the bitcoin lost by people who lost their wallet. There will be no more bitcoin in circulation. I think it would be a good idea to force people to spend their bitcoin in, let's say 25-30 years. If not spent, the bitcoins will be spread in the community. This would also prevent super maniac savers who would die with their super saving of bitcoin.
NO

Go elsewhere to try to steal our money.

In case it is not clear: NO

And NO, it is NOT a good idea, it is a retarded idea.


You felt aim by my "super maniac savers" or what? Nothing about stealing any money here.
you want to steal coins off people that are
in jail for N years
in a coma for N years
Otherwise indisposed for N years

14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
niko
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There is more to Bitcoin than bitcoins.


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June 24, 2012, 05:51:01 AM
 #25

Wow, people feel very strongly about this. Even if it's a bad idea, I don't see why we don't explain why that is so, instead of yelling. As for me, I agree with what was mentioned above (hidden in the noise) - bitcoins are divisible to 8 decimals, so there is plenty of room to accommodate deflation. Also, the rate of loss is relatively low. Finally, expiring coins would create more problems than it solves.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
Gabi
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June 24, 2012, 12:32:00 PM
 #26

Quote
Even if it's a bad idea, I don't see why we don't explain why that is so, instead of yelling
Already done thousands of time.

Please use the Search function the next time.
Pieter Wuille
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June 24, 2012, 12:33:46 PM
 #27

I disagree with the strongly emotional reactions here. This is not necessarily a bad idea. It could be an interesting experiment.

It just isn't Bitcoin.

Obviously, a "hard fork" change can change anything (more precision, limited coin age, ...), but it requires a exceedingly high degree of consensus to pull off, as (almost) everyone needs to upgrade (not just miners). If the precision becomes a problem one day, a consensus for a change that increases it may be viable.

I don't believe a change such as this would ever be accepted by nearly-everyone, as it changes the philosophy behind the system.

aka sipa, core dev team

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Gabi
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June 24, 2012, 12:34:59 PM
 #28

Nice then go and make Altcoin-2
Then please move the thread to the Alternative Currencies forum since it's no more Bitcoin
yadndn
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June 24, 2012, 02:01:05 PM
 #29

the problem is how to confirm the number of bitcoin lost?
Gabi
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June 24, 2012, 02:20:52 PM
 #30

the problem is how to confirm the number of bitcoin lost?
You can't

That's why the idea is retarded
knight22
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June 24, 2012, 03:55:43 PM
 #31

I said 25-30 years but it could also be 50 to 100 years. If you haven't spend your bitcoin after 100 years you would never do anyway and a bitcoin that is not spent is a bitcoin useless. Forcing people to spend a bit their bitcoin will only ease merchants to grow up and strengthen up the currency. It will also encourage the spread of the bitcoin worldwide.

John (John K.)
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Will read PM's. Have more time lately


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June 24, 2012, 03:59:57 PM
 #32

the problem is how to confirm the number of bitcoin lost?
You can't

That's why the idea is retarded

This +1.
How would you 'recycle' the gold sunk below the Marina Trench or buried inconspicuously behind my lawn? If you can revoke bitcoins as you see fit, then Bitcoin is no different from fiat.

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Realpra
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June 24, 2012, 04:18:09 PM
 #33

Sorry I didn't know that was a topic that was overused. I'm new here. It's only prove that this mater is concerning a lot a people I guess...
The BTC protocol can just be updated to allow more decimals.

I have yet to hear anyone disagree to this easy solution.


Decimals, new cryptographic standard and swarm clients - basically every problem that might ail BTC in some 100 years has been theoretically solved. Rest easy.
(I was concerned myself about these, so I collected all the answers)

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June 24, 2012, 05:25:24 PM
 #34

I said 25-30 years but it could also be 50 to 100 years. If you haven't spend your bitcoin after 100 years you would never do anyway and a bitcoin that is not spent is a bitcoin useless. Forcing people to spend a bit their bitcoin will only ease merchants to grow up and strengthen up the currency. It will also encourage the spread of the bitcoin worldwide.

If you think making coins in long term savings disappear adds value then go make your own chain with that 'feature' to show it.

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Soros Shorts
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June 24, 2012, 06:59:58 PM
 #35

In addition to adding more decimal places we can also begin trading in smaller units. This will avoid the hassle of having to deal with everyday prices having too many zeros after the decimal point.

Example, extend the protocol to allow for an additional 6 decimal places of precision. At the same time begin trading in units of microBTC, where 1 microBTC = 0.000001 BTC.

Fiat currencies have done the reverse after experiencing periods of high inflation.

No need to confiscate dormant coins.

Gabi
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June 24, 2012, 07:03:28 PM
 #36

I said 25-30 years but it could also be 50 to 100 years. If you haven't spend your bitcoin after 100 years you would never do anyway and a bitcoin that is not spent is a bitcoin useless. Forcing people to spend a bit their bitcoin will only ease merchants to grow up and strengthen up the currency. It will also encourage the spread of the bitcoin worldwide.
No.

Stop trying to find fail solutions to an INEXISTENT problem
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