Thread

1. seymon · 1789644245 · focus · HN ↗

   I hope they still have the private key.

   1. osigurdson · 1789648222 · focus · HN ↗

      It is an interesting fact about Bitcoin in general. There are 21M tokens in total AND some percentage are lost every year. Run this simulation long enough and there will be very few active Bitcoins remaining.

      1. Roark66 · 1789649066 · focus · HN ↗

         Seems pretty silly to build in deflation into a currency. It incentivises putting your money in a mattress for 100 years.

         1. benenrjdnz · 1789649507 · focus · HN ↗

            Deflation is a good thing, it rewards delayed gratification. Those evil Keynesians have convinced the world a little bit of inflation is good. It isn’t. Losing purchasing power on your money is a bug.

            Nothing wrong with putting money under a mattress for 100y if the value of money is not evaporating.

            For most of human history the money was stable. It’s the disasters of 20th century wars that eroded the value, and 21st century lack of monetary discipline that keeps driving it down now.

            1. dfgknionio · 1789651759 · focus · HN ↗

               If you have a brilliant technical solution that requires throwing out all conventional economics, you don't have a brilliant technical solution. Bitcoin is rotten to its core and every excuse you make for it proves the point.

               >For most of human history the money was stable.

               Absolutely ridiculous. People have been counterfeiting and debasing money for as long as there has been money.

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