[closed] How do they prevent the money supply from going to zero?

After the money supply reaches 21 million, no more new bitcoins will be created, but bitcoins are lost whenever someone loses access to his account. How do they prevent this from causing us to run out of bitcoins?

asked 26 Feb '13, 19:51 majid83 462 majid83's gravatar image
closed 09 Mar '13, 19:51

hi @majid83, do you like some answer?

(04 Mar '13, 01:51) paraipan paraipan's gravatar image

The question has been closed for the following reason "The question is answered, right answer was accepted" by SalvorHardin 09 Mar '13, 17:29

It can be divided down, like mBTC and uBTC, so they don't have to worry about that. I kinda think of it like paper money and coins. It takes 100 pennies to make a dollar, just like it takes 1000mbtc to make a btc. So if you look at it like that it has more than enough to go around.

answered 26 Feb '13, 20:13 anormalname 1792 anormalname's gravatar image

If Bitcoin gain mainstream value, then this will probably not happen as people will be careful to not lose BitCoins because of crash disk or death. This will happen anyway but slowly compared to the mass of the coins. Not compared to the 21 Millions BTC but to the many more billions of Satoshis.

See also: https://en.bitcoin.it/wiki/Myths#Lost_coins_can.27t_be_replaced_and_this_is_bad

answered 26 Feb '13, 21:12 miniwark 9927 miniwark's gravatar image

Each Bitcoin is divisible by 8 figures. There should be no shortage of supply where the market will dictate how far down it is divided.

answered 26 Feb '13, 22:19 hiro 1.5k4 hiro's gravatar image

Theoretically, nothing. In practice, however, each bitcoin is divisible into one hundred million separate units, which are called satoshi. In all, there will be 2.1 quadrillion satoshi, which means that there will remain an adequate money supply even as some coins are inevitably lost. Even if only one Bitcoin remained, there would still be 100 million separate units.

answered 04 Mar '13, 03:05 Zen 912 Zen's gravatar image

Then start using litecoins :)

answered 26 Feb '13, 19:54 heshke 373 heshke's gravatar image

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Asked: 26 Feb '13, 19:51

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Last updated: 09 Mar '13, 19:51

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