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Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B

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190 points aorloff | 3 comments | 04 Jul 25 18:41 UTC | HN request time: 0.455s | source
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throw0101d ◴[04 Jul 25 19:49 UTC] No.44467342[source]▶
Personally I think that this can be considered on the "bug" side of Bitcoin's finite number coins: if, over time, they are lost, then there's a smaller quantity† of currency that is useable to actually do stuff with.

This can make the 'rate of deflation' that occurs worse:

* https://en.bitcoin.it/wiki/Deflationary_spiral

* https://isps.yale.edu/news/blog/2014/06/the-perils-of-bitcoi...

* https://crypto.bi/deflationary/

† I am aware of satoshis.

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serial_dev ◴[04 Jul 25 19:57 UTC] No.44467392[source]▶
When I listen to Bitcoin discussions, one of the advantages people bring up is that there is a limited number of it and you can’t just “print” more.

Considering this, while it is true that all this makes deflation worse, I’d assume most bitcoin hodlers would not mind this.

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1. doublerabbit ◴[04 Jul 25 20:31 UTC] No.44467652[source]▶
What happens when all bitcoin is mined, societal collapse?
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2. cjbgkagh ◴[04 Jul 25 20:35 UTC] No.44467676[source]▶
It will go from the near totality of people acquiring their bitcoins through purchase to actual totality.
3. Hamuko ◴[04 Jul 25 20:39 UTC] No.44467707[source]▶
We have other coins too.