Replying to Avatar zebra

today we have new bitcoins allocated to miners and this doesn't make it shitcoin, why the same thing extended would make it shitcoin? shitcoins usually pre-mined and given for free to company owner or whoever. that is not the same
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FoxByte 5mo ago 💬 1

I guess I just dont understand the benefit... How many btc are lost per year? Do you know? Ive had some BTC sitting for about a decade in a wallet, it hasn't moved once... Should it be replaced?

The blockchain doesn't know what is lost and what isnt...

Who is served by even a trickle of supply increase per year? Just miners I think... Everyone else loses value even if its slight.

The simpler answer, let the price go up as BTC is lost. As its lost, the available supply shrinks. This is good for everyone holding it. There's enough zeros there to last quite a long time... Perhaps humanity won't need money by the time it actually becomes a real problem.

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zebra 5mo ago

main benefit is incentive for miners, second - compensation for lost bitcoin.

if one day miners will not have incentives to mine you will not have incentives for hodl. or fees wlll go trough the roof.

I'm not sure if just enrichment of 1% hodlers is the best future for bitcoin.

but of course it is almost impossible to find proper value for this inflation.

it will be very weird if one day all bitcoin will be sitting in wallets not moving. so we invented new form of diamond?