Re:Ending Bitcoin Support
by ceejayoz on Wednesday January 24, 2018 @10:01AM
(#16223164)
When the fork occurred, Bitcoin's value didn't drop, and Bitcoin Cash's market cap was instantly in the billions. Everyone suddenly had more funny money, but we're somehow supposed to believe "Bitcoin isn't inflationary!" still holds.
It's going to get really exciting at tax time, when people declare bankruptcy, go into a nursing home and need to prove they don't have assets for Medicaid, etc.
> Like you said, SHA256 exploits, or maybe quantum computing would be able to recover them.
That's an insane defense of the point. Sure, if that stuff happens, you'll be able to retrieve lost coins. And non-lost coins. So will everyone else. Bitcoin's value would be instantly zero.
It's going to get really exciting at tax time, when people declare bankruptcy, go into a nursing home and need to prove they don't have assets for Medicaid, etc.
> Like you said, SHA256 exploits, or maybe quantum computing would be able to recover them.
That's an insane defense of the point. Sure, if that stuff happens, you'll be able to retrieve lost coins. And non-lost coins. So will everyone else. Bitcoin's value would be instantly zero.