Something weird about BTC (or any other cryptocurrency) :

Something weird about BTC (or any other cryptocurrency) :

>people who lost their key or password
>people who lost their HDD
>owner who died

All of these coins are lost forever.
Cryptocurrencies are the only form of wealth that can't be retrieved.

>All of these coins are lost forever.
Cryptocurrencies are the only form of wealth that can't be retrieved.
>only form of wealth that can't be retrieved

>Have cash
>Gets burned to ash in fire, you lose it, hide somewhere without telling anyone then you die.
>Lost wealth.

>Have gold
>You lose it, hide somewhere without telling anyone then you die
>lost wealth

>Have money in bank
>Bank run
>Lost wealth

Op literally has the mental capacity of a teenager.

Wow you are a faggot

>All of these coins are lost forever.
Cryptocurrencies are the only form of wealth that can't be retrieved.
>only form of wealth that can't be retrieved
IF YOU LOOSE YOUR PRIVATE KEY, SHITS GONE GONE FOREVER NEVER COMING BACK DOESN'T EXIST ANYMORE.

>Have cash
>Gets burned to ash in fire, you lose it, hide somewhere without telling anyone then you die.
>Lost wealth.
GOVERNMENT PRINTS MORE

>Have gold
>You lose it, hide somewhere without telling anyone then you die
>lost wealth
SOMEONE FINDS IT

>Have money in bank
>Bank run
>Lost wealth
YOU LOSE IT, THE WORLD DOESN'T

The mint can print more money asshole, BTC is gone forever.

You missed the point you fucking mongoloid.

this

hck the password. easy as pie.

Dumb fuck, kys.

Lose cash?
Print more

Lose gold? Someone will find it eventually, not to mention near infinite supplies in space

Banks?
FDIC insured

Bitcoin?
Crush up a harddrive and forget the key? No more can be printed after a certain amount

it's not lost forever , there's just an infinitesimally small chance that someone will ever be able to access it , just like if you put some gold on a rocketship and shot it off into space

sounds good to me. that would just make the coins I'm holding more valuable

This you homos

Yes good luck mining those asteroids.
Bitcoin can be multiplied by anyone with development skills, and that is actually what most alt-coins are, clones of Bitcoin.

>Currency has value because people believe it has value
>Networks have value that rises exponentially with the number of users on those networks

Facebook can be multiplied by anyone with development skills, doesn't mean a billion people are going to switch over and use the clone.

>Bitcoin can be multiplied by anyone with development skills, and that is actually what most alt-coins are, clones of Bitcoin.
Those are not Bitcoins as they cannot be used on the Bitcoin blockchain.

Altcoins are just a way to accumulate more Bitcoin.

They are intrinsically the same.
We shouldn't fool ourselves into thinking Bitcoin is rare in any way.

BTC relies on it's brand, once that is tarnished (by repeated forking or other circumstances) or when another crypto with far superior qualities begins to be adopted BTC will be dumped.

If another crypto with superior qualities is designed BTC can just incorporate its features as necessary. Truth is the vast majority of alts are useless memes, we don't need anything beyond one for smart contracts and one for privacy, at most.

Possibly. But in the end since it can be multiplied at will, it comes down to peoples belief in the brand which is very fragile.

inb4 someone equates small with 0 and says its impossible

>Cryptocurrencies are the only form of wealth that can't be retrieved.
When you take money out of the bank, and shred it, that money is lost forever.

>GOVERNMENT PRINTS MORE

Wow, great feature. Guess fiat is better after all, time to dump btc lads.

It simply increases the value of the remaining supply. Take some econ 101.

It doesn't matter, it just means the value of the other coins in circulation will be higher. You've got to remember that BTC isn't like fiat cash, it's more like gold with the way people treat it at the moment.

Like seriously
>btc sucks because at any time there's a chance of other people's stupidity increasing the value of your holdings

Op seems to be mentally handicapped which indicates he might have the brain disease known as nocoinerism.

And, history does show with most things that it is not the inventor/invention that is most successful, rather the 1st innovator/innovation that is.

then gold is the same as anything by that logic as well

For all the coins that get lost the value of other coins will rise
Economics 101

Bitcoin isn't a static thing. There's a huge community working on improving it all the time.

print paper wallets or have a contingency plan for when you pass on your btc.

it's not that difficult.

thats why its terrible as a currency.
any currency needs to have stable prices and enough supply. the two are related if there supply is constant.
once enough coins are lost you have so few coins that you get a depression because no one can trade anymore

Yep.

Thats true, and this why i said most of the time, bitcoin came out of nowhere created by a ghost, whos to say someone else isnt working on a better idea?

Bingo

True but there are 21x10^12 units of Bitcoins. Even if half of it disappears, There's still enough to go around for the entire world.

Anyone anywhere could be working on an improvement to anything that exists. Does that mean we should all just exist in a constant state of paralysis and uncertainty?

eventually btc might rise to the point where everyone is trading purely in sats.
but btc is way too old to be the future

imagine if a virus was created that erases your private keys.

>gold is made of atoms
>shit is made of atoms
>mfw gold is literal shit

Really overstressed my synapses

>he keeps his private keys on an insecure terminal connected to the internet

deserved it

Can't type that much on the phone right now, but look up some Austrian Economics and see how you are wrong

I never said there was a contradiction. You asked me is we should live in uncertainty.... you then said you are not certain about anything.

What you people fail to realise is that you are giving thin air value. Thin air actually has more value as you need to breathe it to live. If i were holding a large amount of bitcoin i would be counting my self lucky that i got this far and cashing it out to buy tangible assets. You will at least have something to show for your good fortune if this shit collapses. Buy a mc donalds franchise, real estate, do your research, something that will give you a constant income stream. Crypto is just another form of gambling

So what?

But user small is zero because the chances become so insignificant that science has proven you are closer to telling a lie than the truth once you reach a certain point.

I bet you fags don't KNOW that .999_ = 1.0

>inb4 high school level crash course vsauce argument

Get on my ascended level you homos

It only changes the value relatively to the demand in a negligible way every time some is lost, in the big picture it just raises the value a bit every time some is lost, will always balance in the end until its worth nothing

Ok then, consider 1bitcoin is 100 million satoshis, 100 million that enuf for you?

and that's the beauty of it

what wins?
a better system
or
government power

Not forever. Just a very, very long time. There is a possibility that quantum computing developments will eventually, one day, lead to Bitcoin needing to increase to a different method of securing coins. When this happens, everyone who's still around will simply move their coins to whatever the newer, more secure system is. Then whatever is left on the old less secure system will be fair game for treasure hunters who use their powerful quantum computers to search for hidden treasure. Consider these old coins to be something like we regard gold onboard shipwrecks out at sea.

Of course, there is the possibly that, by then, we will have transcended the need for currency by then though.

You become an unwilling eternal hodler.
Your mad hodling skillz will push the value up for all the others.

except that a new hashing algo will just be hard-fork, cloning the BTC of the dead people onto the new chain while the unsecure chain will have 0$ value long before any attacks are feasable

>throw gold in volcano
>throw gold out of airplane over deep ocean trench unreachable by man
>shoot gold off into space

They will just multiply the coins. So everyone that has 1 bitcoin will now have 1000 bitcoins. A stock split if you will

>cash gets burnt
>government prints more

>lose crypto
>developers create new block chain

Crypto is just digital fiat. It's done, finished, over. Just sold everything. How hasn't anyone realised this before EVERYONE BTFO