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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 | 1 comments | 04 Jul 25 18:41 UTC | HN request time: 0s | 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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TheDudeMan ◴[04 Jul 25 20:08 UTC] No.44467486[source]▶
Losing some bitcoin is effectively equivalent (over the long term) to distributing it to all other holders (proportionally). So this is fine.
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nosefurhairdo ◴[04 Jul 25 20:42 UTC] No.44467729[source]▶
Which is equivalent to deflation, which parent suggests is harmful to bitcoin's viability. In order to claim that "this is fine" you would need to refute the claim that deflation is bad.
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DonHopkins ◴[04 Jul 25 20:48 UTC] No.44467776{3}[source]▶
Given the context, "this is fine" is obviously an ironic reference to the cartoon dog sitting on a chair at the dining room table with a mug of coffee in a burning house meme.
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1. echion ◴[04 Jul 25 21:22 UTC] No.44467977{4}[source]▶
Normally I would say you're right, but I read the context opposite to you; I read the "fine" as a straight/literal statement: the author of "this is fine" is disputing the author's parent's statement that "this can be considered [a bug]".