If a fiat currency is destroyed, money could be printed to replace the lost supply. In the case of BTCs however, the number of BTCs that will ever be “printed” will, at most, be 21,000,000. Additionally, there exists no central authority that can decide to “print” more BTC because someone say, failed to care properly for their wallet.
So my question is, does it matter that nobody can ever be sure that BTC has been destroyed? Is this a drawback for BTC? The currency can be broken down to extremely small fractions, so there should be no worry of running out of BTC. However, the network can’t verify when BTCs are destroyed. Can the amount of BTC in circulation be tracked to any degree and then estimated? If not, is this a disadvantage inherent to bitcoins or does it not matter?