Comment: I don't believe you understand bitcoin

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I don't believe you understand bitcoin

when you write that. Printing money without backing is not what is happening with bitcoin. Nobody using bitcoin has their own printing press and the upper bound of bitcoin supply is fixed. Creating a bitcoin involves the expenditure of resources. A fiat currency is only limited to the amount of ink, paper and the number of zeros you can fit on that paper.
Counterfeiting of currency involves creating money out of nothing without a license. Doing it with a license does not mean those with a license cannot print as much as desired. There is no upper bound beyond which the already existing money can be diluted with or without a license. Bitcoin does not have that problem if fake bitcoins cannot be manufactured.
I don't see any inconsistency here on Molyneux's part.

[F]orce can only settle questions of power, not of right. - Clyde N. Wilson