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The other threat to such a system, when it gets larger, is that others who make interfaces to store/use BitCoins might also allows other BitCoin-esque currencie
by nickpinkston 16y ago
The other threat to such a system, when it gets larger, is that others who make interfaces to store/use BitCoins might also allows other BitCoin-esque currencies. Which is fine if each of these currencies is vetted the way BitCoin is undergoing right now, however if it's very automated we could see new distributed currencies issued when the demand for new BitCoins is high enough.
TL;DR: Other BitCoin-like currencies could be used to grow the money supply - which might lead to bubbles of such currency or perhaps solve the growth issues BitCoin will deal with.