[Stanley]

$3.4B in Ether lost forever due to user errors, Coinbase warns




Ether lost due to bugs and user errors has surged 44% since March 2023, according to Conor Grogan, head of product at Coinbase.



https://cointelegraph.com/news/3-4b-ethe...er_inbound

[Mewtwo]

Just a donation to bring the value up, like what Satoshi Nakamoto once said

[Rsynced]

People be stupid, too dumb and lazy to use crypto and not triple check all your transfers you shouldn't be using it.

[Omniscient]

Just a donation to bring the value up, like what Satoshi Nakamoto once said

Not really since ETH doesn't have a limited supply. Lost ETH do not add rarity to the ecosystem like Bitcoin does.

[Mewtwo]

Not really since ETH doesn't have a limited supply. Lost ETH do not add rarity to the ecosystem like Bitcoin does.

Interesting. I did a ChatGPT check to see if any other crypto has limited supply. BTC, BCH, LTC, Dash, and Zcash. XMR seems interesting, since they manage inflation control (and to avoid running out of supply):

AI Quote:
Great question — Monero (XMR) is technically unlimited in supply, but with a clever mechanism designed to balance long-term security and inflation control. Here’s how it works:

⸻

🔐 Monero Supply Breakdown

✅ 1. Main Emission Phase (Ended in 2022)
• Monero was originally programmed to issue about 18.4 million XMR.
• This phase ended on May 9, 2022, when the block reward reached a threshold.

⸻

♾️ 2. Tail Emission (Ongoing Forever)
• After hitting ~18.4 million XMR, Monero did not stop producing new coins.
• Instead, it switched to “tail emission”:
• 0.6 XMR per block, every 2 minutes.
• That’s about 157,680 XMR per year.

⸻

💡 Why Tail Emission?

Most blockchains rely on block rewards to pay miners. Once the supply cap is reached (e.g., Bitcoin), they must rely on transaction fees alone — which may not be enough to secure the network.

Monero avoids this risk by:
• Ensuring miners always get some reward.
• Preventing the chain from becoming insecure or centralized due to lack of incentives.

⸻

📉 Inflation Over Time

Even though Monero has infinite issuance, its inflation rate decreases over time:
• In 2022: 0.84% inflation
• By 2030: less than 0.5%
• Eventually: approaches zero (but never hits it)

This makes Monero effectively deflationary in percentage terms — the circulating supply grows slowly while demand can still increase.

⸻

⚖️ Summary

Feature Description
Main Cap 18.4 million (reached 2022)
Tail Emission 0.6 XMR every 2 minutes
Supply Limit No hard cap, but slow inflation
Goal Long-term miner incentives + network security


⸻

So while XMR has no max cap, its low, predictable inflation is a feature — not a bug.

[Omniscient]

Interesting. I did a ChatGPT check to see if any other crypto has limited supply. BTC, BCH, LTC, Dash, and Zcash. XMR seems interesting, since they manage inflation control (and to avoid running out of supply):

Monero did more than a few things unique and imho well. Fairly sure as long as there is Bitcoin that Monero will have value.

[DemonAsylum]

People be stupid, too dumb and lazy to use crypto and not triple check all your transfers you shouldn't be using it.

Natural selection I suppose lol. I can only hope there aren't too many people out there making any sort of mistake with sending more than the first time. I guess if they are though it all the more goes back to the natural selection lmao.

[Fish]

Wow, that’s a pretty hefty amount. It’s crazy to see how much people have lost

[Hackers]

Huge number, but chump change for Bitcoin which has an estimated 2.3 - 3.7 MILLION Bitcoin lost right now.

Hundreds of billions of dollars, completely gone.