Exactly. They've "disappeared" from outside of the ledger, in the sense that those tokens will never be involved in another transaction so won't be "seen" again by anyone else. But they can never disappear from inside the ledger. That would violate the rules of accounting.
My main point with this is this is how the current money system works! People seem to think money can disappear in crypto but not in the real system. In fact it's quite the opposite. In both systems from the ledger's point of view nothing can appear or disappear. But in the current system, since the ledgers are controlled by private entities they can make stuff appear from the public point of view by creating loans. In crypto the ledger is not controlled by anyone.
Essentially the big problem with finance currently is the people who control the ledger are also allowed to create loans inside the ledger! It's a huge conflict of interest and obscenely privileged position.
My main point with this is this is how the current money system works! People seem to think money can disappear in crypto but not in the real system. In fact it's quite the opposite. In both systems from the ledger's point of view nothing can appear or disappear. But in the current system, since the ledgers are controlled by private entities they can make stuff appear from the public point of view by creating loans. In crypto the ledger is not controlled by anyone.
Essentially the big problem with finance currently is the people who control the ledger are also allowed to create loans inside the ledger! It's a huge conflict of interest and obscenely privileged position.