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Speculation on lost bitcoins inside BTC nodes
10 sats \ 6 comments \ @MaaliMKen 21 May 2024 bitcoin freebie
Hey all. So an idea hit me.
About 3.84 million BTC are currently lost worth a combined value of $268 billion. And it will grow! But combined I doubt all the BTC nodes in the world would even scratch the $10 billion mark. And as we all know, hardware depreciates in value but it also deflationary in price. So in the future, nodes could be handheld.
What does this mean?
What if we could speculate on these lost bitcoins? Trading them, through trading nodes, like they were real coins? Hoping to start a crypto called LBTC (lost BTC) to help drive this idea. Meanwhile, I am writing a novel on the Nuance.xyz blogger blockchain called 'Lost in Cyberspace'.
Hopefully one day, we shall do a hardfork and keep BTC 21 million. Not less. Polite criticism and technical forays into what this would mean or could become, are welcome.
Need more fodder for the novel.
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31 sats \ 0 replies \ @carlosfandango 21 May 2024
Ok…. No. Creating ‘tokens’ and ‘crypto’s’ is unlikely to get much traction on this forum…
‘Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.’ - Satoshi
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20 sats \ 1 reply \ @kristapsk 21 May 2024
Hopefully one day, we shall do a hardfork and keep BTC 21 million. Not less.
No, it's impossible to prove bitcoins are lost, unless sent to provably unspendable outputs. That would be theft. It should be possible to hodl and not move coins for centuries.
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0 sats \ 0 replies \ @MaaliMKen OP 26 May 2024
That unless part is what I am talking about. But after a century of Satoshi's coins not moving can we still say he is hodling? :-)
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10 sats \ 1 reply \ @Satosora 21 May 2024
You are trying to create double of one coin. Creating something from nothing. That is completely what bitcoin is against.
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0 sats \ 0 replies \ @MaaliMKen OP 26 May 2024
No. I am trying to trade lost coins like they never got lost in the first place.
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0 sats \ 0 replies \ @MaaliMKen OP 21 May 2024
Whoever wants to partner on the crypto token I'm here. Especially if you have technical and financial strength. This token will drive the novel while the novel drives it.
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