Archive hypothesis · Not an established fact
Dormant Coins as an Issuance Buffer
New BTC enters existence on a known schedule, yet much of the existing supply does not move for long periods. One can hypothesize that old outputs buffer active supply. The chain records movement, not intention.
ARCHIVE HYPOTHESIS · Observable data is separated from the editorial interpretation.
What can be observed
Every unspent output has a last-moved time, allowing researchers to group UTXOs by age.
No block labels an output as lost or deliberately held. A decade of inactivity may mean a lost key, cold storage, an estate, or a forgotten remainder.
The hypothesis
If a large share of BTC rarely moves, current activity interacts with a smaller mobile layer rather than all historical issuance.
When old outputs return, that layer expands. In this limited sense dormant coins may act as a buffer around active circulation.
Where evidence ends
UTXO age does not prove a sale; an owner may move BTC between personal wallets. It cannot provide a certain total for lost coins.
The hypothesis proves neither price stability nor future value. It offers a question for further research.
An old UTXO is observable. The reason for its silence is not.
Sources and verification
HYPOTHESIS. This is an interpretation of UTXO ages, not a proven economic law. Dormancy does not establish key loss or predict value.
Unless stated otherwise, the text, conclusions, structure and editorial arrangement were created by the project editors. Facts, quotations and source materials remain attributable to their authors and rights holders.
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