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

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191 points aorloff | 3 comments | 04 Jul 25 18:41 UTC | HN request time: 0.003s | 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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crystaln ◴[04 Jul 25 20:00 UTC] No.44467413[source]▶
Deflation is what you want for investment assets. Btc is primarily a value store and commodity like gold, not a currency. Deflation is a good thing when you are parking value.
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1. mrbombastic ◴[04 Jul 25 20:33 UTC] No.44467662[source]▶
The original bitcoin whitepaper was titled: “a peer to peer electronic cash system”
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2. throw0101d ◴[04 Jul 25 20:41 UTC] No.44467719[source]▶
>> Btc is primarily a value store and commodity like gold, not a currency. Deflation is a good thing when you are parking value.

> The original bitcoin whitepaper was titled: “a peer to peer electronic cash system”

The goalposts, they move.

3. solumunus ◴[04 Jul 25 20:46 UTC] No.44467762[source]▶
The initial intention does not change the practical reality.