That might be what it was in that metric's worst years (early, when bitcoin wasn't worth much -- reformatting a hard drive without backing up the wallet because it only had like 6 BTC, ... an amount worth less than $5 at the time, for example). But I refuse to believe the actual loss today it is much more than an order of magnitude less than that. People are not that careless nowadays.

Just because a coin hasn't moved in five years, ten years, whatever does not mean access to those keys is gone.

As far as deflation .. bitcoin, and especially lightning network, increases the velocity of the currency, something that is especially juiced by those who are hand-to-mouth, or live paycheck-to-paycheck.

So while the quantity of bitcoin isn't increasing by much, we are seeing less value of bitcoin needed for the same level of economic activity that occurred when the funds were in the bank-system led payment networks.

Haha. The only algorithm those in power know and will employ is the one that says "when button gets pushed, crank fiat money printer [well, it's electronic equivalent]."