submitted by /u/where-is-satoshi [link] [comments] |
source https://www.reddit.com/r/btc/comments/bf8por/testing_bitcoincoms_bch_merchant_in_north/
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https://medium.com/@craig_10243/fixing-op-fals-fd157899d2b7
When a private key is lost, it is merely out of circulation. It may be many years, but all old addresses eventually become mine-able and can be recovered.
Mr. Craig Wright proposes for coins that have been burned or lost to be salvageable by miners and put back into circulation.
However, unfortunately for Craig, this idea contradicts what Satoshi has said about the topic.
https://bitcointalk.org/index.php?topic=13.msg46#msg46
Those coins can never be recovered, and the total circulation is less. Since the effective circulation is reduced, all the remaining coins are worth slightly more. It's the opposite of when a government prints money and the value of existing money goes down.
It is possible that Craig is making this change to BSV in order to get his hands on the Satoshi coins that are on his chain. At present market prices, that would net over $50 million. Nice!
this what i wrote: "Why are you all so afraid of BCH? Be better or die eventually. People have every right to claim what does bitcoin means for them. Why is it so hard to understand many of us geniunely think BCH is more bitcoin like than BTC. How is sharing our views is scamming people?"