Bitcoin: the lost BTCs are more than the mined ones

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In a recent discussion initiated by CobraBitcoin, co-owner of Bitcoin.org, there was talk of how the Bitcoins (BTC) lost every day outweigh those that are undermined.

The calculation takes into account the fact that more or less, since the beginning of 2009, about 4 million BTC have been lost. If we calculate the days, it is more than 4 thousand days, so about 940 BTC per day have been lost.

Every day, however, every 10 minutes 6.25 new BTCs are mined, or about 900 BTCs per day, which is less than the BTCs that are lost every day, showing that the scarcity of the asset will also be affected by the lost BTCs.

Bitcoins lost and asset scarcity

In fact, there are only 21 million BTCs and some of them are in the hands of the exchanges. Others are in the hands of more than 40 million addresses, some more or less, and more than 5 million addresses have between 1000 and 10000 BTC.

From this data it is easy to understand how a single person who would lose a quantity of BTC would indirectly reduce the amount of BTC in circulation, which would result in a greater scarcity of the asset and an inevitable increase in price.

So, absurdly, in the future, for example when the next bitcoin halving will take place, this inferiority will be more and more evident and the loss of the assets will affect the value with the possibility that it will rise further.

Bitcoin and deflation value

It is certainly a dramatic statistic because many people lose their funds, but it can have a positive impact on Ethereum Code that is becoming increasingly scarce.

Bitcoin is also scarcer of raw materials like gold, and in fact its value is much higher if we consider that 1 ounce of gold currently costs 1679 euros.

Moreover, thinking about it well, cash is an inflationary good, so it is bound to lose value over time, while for Bitcoin the opposite rule applies, so if people start to understand it, it could start a new „gold fever“.