Eric writes: Wow, thanks for all that!
“4. Back to mechanism: If the above are correct, then any sub-system of the economy that depends on a bitcoin-like digital currency will be subject to the stresses that come from an inflexible-supply money such as gold, and those will need to be addressed somehow. “ Of course, Bitcoin is the biggest, but still just one of many existing or possible digital currencies (some of them having the properties of gold). Others, like NXT coin, reward holding the currency rather reward mining it. If creating these currencies means little more than creating a protocol and supporting code, and building a community around it, then different systems of governance can be built around the rules, including the ability to have it be a flexible money supply. In principle, trans-national economies could emerge, and they could gain more momentum than the official currencies of smaller nations. Marcus
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