You couldn't have it more wrong.

Money circulating doesn't create new money. If I have one Bitcoin and I spend it with you, now you have one Bitcoin and I have none. There is no increase in the number of Bitcoins.

There is no cap on how many dollars can be printed, which is why 100 dollars a century ago could buy you much and now it buys very little.

With bitcoins there is a limit of 21million that will ever be created. Some of these will get lost as people lose wallet passwords etc. So the criticism of Bitcoins has normally centred on them being deflationary rather than inflationary.

There is an interesting debate as to whether you can have fractional reserve banking with Bitcoins and hence increase the money supply by lending (as happens with real money).

Bonus points for optimism.


Seems to me only one crypto currency matters and that is bitcoin. No one else beyond these and similar forums has heard of any of the others, and currencies are one of life's natural monopolies where everyone wants to be using the same system if possible (that is why the world used US dollars).

It must have been hard enough getting Bitcoin started and accepted by enough people originally, but now that it exists its going to be virtually impossible to get people to switch to anything else.