Relying on people losing their coins isn’t an inbuilt anti-inflation strategy. Plus if one assumes that understanding of these technologies as well as the importance of keeping them in safe locations & backing up your keys, that considerably less will be lost. Aside from this realistically the supply will continue to inflate faster than people will lose their coins. Personally, I’d rather place my bets on something with a maximum supply and a halved release rate at regular intervals so as to ensure inflation does not occur. Additionally, there is also always incentive for miners within that system, because the use of the system requires fees which get paid to the miners. Win win. I also advise others do the same.
Discussion
Currency has always lost whether it's gold sinking to the bottom of the sea on a ship or somebody throwing out a hard drive with thousands of bitcoin on it and spending years trying to get them to let him dig in the dump to find it. Coins will get lost. Some estimates are saying about 0.5% of the supply woyld be lost per year. If that's true, then our current inflation would be about 0.3% per year. That is still better than any currency in history, including gold, which the World Gold Council estimates inflates at about 1.5 to 1.8% per year. It's fair enough that we have different strategies. But if you want to hold Bitcoin, so be it. But perhaps you should consider spending in Monero since it's fully private.
I didn’t know this, thanks for sharing these stats! In terms of Bitcoin I believe holding is important however I also believe using it is important. At the moment I am focused with some other individuals on bringing more eyes to Bitcoin to help understand why it’s valuable and more useful than fiat currencies. The ideal situation is everyone using it and holding it, with it becoming the new standard. However I will definitely look more into how Monero works and how it might benefit me for private purchasing.
Additionally I appreciate your approach to this conversation, as I tend to find many people who vouch for Monero try to shit on Bitcoin. In your case you politely bring up counter points without diluting the points I’ve made, and I find that respectable.
Well, it's a new approach I'm trying out. I know me, and I am like the rest of them, but I'm trying a slightly different tact to see if it works any better. LOL.