<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:12pt"><div style="font-family: 'times new roman', 'new york', times, serif; font-size: 12pt;"><span style="font-size: 12pt; color: rgb(31, 73, 125);">>>…</span><span style="font-size: 12pt;">When I wrote those words above, I was alluding to the possibility that although bitcoin is ingeniously structured to ensure scarcity of bitcoins over the long run, analogous to what nature has done for gold, the proliferation of alternative digital currencies might nonetheless inflate the overall digital money supply into the indefinite future. </span><span style="font-size: 11.5pt;">Just as central banks can "print money" out of thin air, so too can anyone create a new bitcoin-like digital currency. If am correct about this then </span><span style="font-size: 12pt;">the scarcity of digital money is
illusory and it loses an important advantage over ordinary fiat money. I would rather be incorrect. What is wrong with my thinking here?</span><span style="font-size: 12pt; color: rgb(31, 73, 125);">...</span><span style="font-size: 12pt;">--</span><br></div><div style="font-family: 'times new roman', 'new york', times, serif;"><div style="font-family: 'times new roman', 'new york', times, serif;"><div id="yiv374611616"><div><div class="yiv374611616WordSection1"><div><div><div><div><div><div><div><div class="yiv374611616MsoNormal" style="font-family: 'times new roman', 'new york', times, serif; font-size: 15.555556297302246px; color: rgb(31, 73, 125); background-color: transparent; font-style: normal;"><br></div><div class="yiv374611616MsoNormal" style="font-family: 'times new roman', 'new york', times, serif; font-size: 12pt;"><span style="font-size: 11pt; font-family: Calibri, sans-serif; color: rgb(31, 73, 125);">> There is nothing wrong with your
thinking Aleksei, it is perfectly legitimate.</span></div><div class="yiv374611616MsoNormal" style="font-family: Calibri, sans-serif; font-size: 11pt; color: rgb(31, 73, 125); background-color: transparent; font-style: normal;"><span style="font-size:11.0pt;font-family:"Calibri", "sans-serif";color:#1F497D;" class="yui_3_7_2_19_1365131624432_92"><br></span></div><div class="yiv374611616MsoNormal" style="background-color: transparent; font-style: normal;"><span class="yui_3_7_2_19_1365131624432_92" style="font-family: 'times new roman', 'new york', times, serif;">Those were actually my words, spike. :)</span></div><div class="yiv374611616MsoNormal" style="background-color: transparent; font-style: normal; color: rgb(0, 0, 0); font-size: 15.555556297302246px; font-family: 'times new roman', 'new york', times, serif;"><span class="yui_3_7_2_19_1365131624432_92" style="font-family: 'times new roman', 'new york', times,
serif;"><br></span></div><div class="yiv374611616MsoNormal" style="background-color: transparent; font-style: normal; color: rgb(0, 0, 0); font-size: 15.555556297302246px; font-family: 'times new roman', 'new york', times, serif;"><span class="yui_3_7_2_19_1365131624432_92" style="font-family: 'times new roman', 'new york', times, serif;">Gordon </span></div><div class="yiv374611616MsoNormal" style="background-color: transparent; font-style: normal; color: rgb(0, 0, 0); font-size: 15.555556297302246px; font-family: 'times new roman', 'new york', times, serif;"><span class="yui_3_7_2_19_1365131624432_92" style="font-family: 'times new roman', 'new york', times, serif;"> </span></div><div class="yiv374611616MsoNormal" style="background-color: transparent; font-style: normal; color: rgb(0, 0, 0); font-size: 15.555556297302246px; font-family: 'times new roman', 'new york', times,
serif;"><br><br><br></div></div></div></div></div></div></div></div></div></div></div> </div> </div> <style><!--
#yiv374611616
_filtered #yiv374611616 {font-family:Calibri;panose-1:2 15 5 2 2 2 4 3 2 4;}
_filtered #yiv374611616 {font-family:Tahoma;panose-1:2 11 6 4 3 5 4 4 2 4;}
#yiv374611616
#yiv374611616 p.yiv374611616MsoNormal, #yiv374611616 li.yiv374611616MsoNormal, #yiv374611616 div.yiv374611616MsoNormal
{margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman", "serif";}
#yiv374611616 a:link, #yiv374611616 span.yiv374611616MsoHyperlink
{color:blue;text-decoration:underline;}
#yiv374611616 a:visited, #yiv374611616 span.yiv374611616MsoHyperlinkFollowed
{color:purple;text-decoration:underline;}
#yiv374611616 span.yiv374611616EmailStyle17
{font-family:"Calibri", "sans-serif";color:#1F497D;}
#yiv374611616 .yiv374611616MsoChpDefault
{font-family:"Calibri", "sans-serif";}
_filtered #yiv374611616 {margin:1.0in 1.0in 1.0in 1.0in;}
#yiv374611616 div.yiv374611616WordSection1
{}
--></style></div></body></html>