Bluepaper Questions


#42

They are not circulating as in they cannot be bought sold or moved. But they are circulating for the incentives (dividends) in that they give the owner incentives since they are locked in her/his account/address

I was hoping @dandabek might give his view on a small change to the procedure and make the permanently locked (burned) coins be available for unlocking by the owner after a set # of blocks have been mined. Say 12 months worth of blocks. This way we do not see a growing overall number of coins locked which after 10 years surely will be quite significant. By making the period say 12 months it also stops spamming. Even 6 months (perhaps 3 months) would prevent significant spamming.


#43

I agree, if someone no longer can access their wallet they shouldn’t be receiving dividends


#44

I just picked a number out of the air, but a more rational number would be 100USD. that’s the max valuation at which it’s still possible to transact 0.01USD given the 0.0001 limitation. The billion coins won’t exist at the outset; according to the paper that number is projected 20 years after mining begins. At the end of year one the supply would be 25,750,000 * 100USD = 2,575,000,000. That’s still a lot, but what if it becomes a problem due to valuation? I wonder if it’s something that can be changed later?


#45

Good point.

You could make a new address or wallet and move all your coins (except the permanently locked ones) to the new wallet then sell the wallet with the locked coins to someone else. They they can get the incentives (dividends)

But the coins are still permanently locked and would there be buyers for that otherwise empty wallet? And then they have to consider you still know the keys for it.

I’d say there would be very few who would buy such a wallet and likely to give you less than if you just kept it for yourself.