I remember looking at it when it was below a dollar... at the time I had no money and told everyone I know to buy. I also managed to mine 50 coins, but have since lost the wallet.
Now, my brain melts when I see the current price.
Now, my brain melts when I see the current price.
I was going to buy $300 worth when they were 30 cents each. I didn't, though, as it involved travel to a nearby town and I was working on a book and thought I should be practical and spend the weekend on that. Ah well, one less house.
If the bitcoins in the lost wallet never get recovered, does that mean that the amount bitcoins available for trading has just decreased? My small understanding of bitcoin tells me that there only a limited number of bitcoin available once it has all been mined.
The lowest bitcoin denomination is one Satoshi, which is 0.00000001 BTC. If one Satoshi would equal one cent, this means that one US dollar would equal 0.000001 BTC.
Given that the maximum number of Bitcoins is ~21 million, this amounts to a max capitalization of ~21 trillion USD.
I'm sure this question makes it pretty obvious I'm not a cryptographer, but I'm still curious.