Lost Bitcoin and the Money Supply

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In this video, I discuss how lost Bitcoin functions as a pro-rata distribution to the network, thus strengthening and enriching those who are more responsible and careful with their private keys.

Lost Bitcoin is simply BTC that can no longer be sent/spent because the private keys necessary to sign a transaction have been lost.

It's Keynesian propaganda that a growing economy needs money printing to keep the money supply growing. Rather than having bankers increase the number of units, it's far better to allow the market to adjust the purchasing power of the money upwards or downwards instead, as would occur on a Bitcoin standard with its fixed maximum supply of monetary units.

Deflation means that the prices of goods and services are falling. Only an economist or central banker could be stupid or corrupt enough to believe that's a bad thing. Deflation is best for human flourishing. Only corrupt large indebted governments want inflation.

Human ingenuity and technological progress is what's actually responsible for economic growth, not bankers in a back room expanding the money supply. The latter is the worst kind of magical thinking.

It's time to return to a sound money standard like Bitcoin.

Not investment advice! Consult a financial advisor.

Lost Bitcoin:
https://river.com/learn/what-happens-to-lost-bitcoin/

Bitcoin Eater Address:
https://mempool.space/address/1BitcoinEaterAddressDontSendf59kuE

Apollo 11 computer vs modern iPhone:
https://blog.adobe.com/en/publish/2022/11/08/fast-forward-comparing-1980s-supercomputer-to-modern-smartphone

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

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