Comment: my point was that there can

(See in situ)


my point was that there can

my point was that there can be an infinite amount of bitcoins created through various algorithms, but an infinite amount of gold or silver cannot be mined.

if bitcoin is "the ideal" digital currency, then because of its nature it can be recreated exactly by another person, then we'll have double the supply of "ideal" currency. if bitcoin isn't the ideal, then people will flock to the ideal, but then it too will also be recreated and its supply inflated.

one could argue that this is similar to the 1 dollar bill (mint mark D) competing with the 10 dollar bill (mint mark C). we both know they are the same value, they are created separately, but they both serve the same purpose and people treat them equally because any dollar is the "ideal" for paper currency.