Arlo1 said:I keep thinking about this and what happens when people loose some coins which they will. Then over time there will be less and less bit coins left till they are all lost. The only way for this to be avoided is to track them!
Oh ok so you can have duplicates but cant spend duplicates. And 50 new coins only get mined every hour till there is 21,000,000 coins so what I am saying is when people loose them and they will the total bitcoin number will be always shrinking driving the value up!liveforphysics said:Arlo1 said:I keep thinking about this and what happens when people loose some coins which they will. Then over time there will be less and less bit coins left till they are all lost. The only way for this to be avoided is to track them!
Actually, 50 new coins get minted every hour around the world.
Likewise, people lose cash sometimes. But cash can only exist in a single place. At least with this you can back it up, you could email it to your self in 5 email accounts or whatever, hide it on some flash drives, host it in an encrypted file on a server, or whatever the hell you feel like doing.
Thing is luke, there is already has been some people loosing them. And with this happening then its only a matter of time till they are all gone.... sure it may take 1000 years but they will be lost. Or they will need to be tracked.... Which meens tax tax tax and people who can come hack you to steal them because they just have to find out who has them.liveforphysics said:I can't imagine the tiny percent of lost coins will have much or any effect on the value my friend.
Arlo1 said:Thing is luke, there is already has been some people loosing them. And with this happening then its only a matter of time till they are all gone....liveforphysics said:I can't imagine the tiny percent of lost coins will have much or any effect on the value my friend.
TheBeastie said:But the bitcoin creator probably didn't anticipate ASIC hardware to ruin the fun of having a more general population participating in bitcoin mining
state averages ranged from $2,516 in Utah to $620 in West Virginia.