Author: Andy Parkins 2012-12-04 09:54:38
Published on: 2012-12-04T09:54:38+00:00
In an email conversation on December 3rd, 2012, Michael Gronager suggests that aged coins be included in block mining rewards to create another incentive for miners and to ensure that coins are never lost forever. However, Dr. Andy Parkins argues that there is no need to worry about lost coins as it is an arbitrary number and Satoshi could have picked any number for them and bitcoin would still work the same. Additionally, lost coins never enter the economy again, causing the supply to be slightly lower and making non-lost coins worth more. Therefore, price adjustments will take care of lost coins.
Updated on: 2023-06-06T09:22:05.187117+00:00