Other currencies are fractionally devalued, because the total money supply in the world (across all currencies, including Bitcoin) has increased, and because mo

Other currencies are fractionally devalued, because the total money supply in the world (across all currencies, including Bitcoin) has increased, and because money is just a demand on all non-money products and services. More money demanded against the same amount of global products and services==devalued money. Other currencies are proportionally less useful and demanded and bitcoin becomes proportionally more useful and demanded. Minor nitpick: > Wealth can't be created Yes, it can. Since money is just a demand on all other kinds of value, printing money or creating a new currency redistributes the ability to claim those other values. But if you actually create those other values---e.g., if you invent a Cyclotron or Google or are the next Bill Gates or you grow fruit or catch fish or cut hair---wealth is being created. EDIT: I should be clear that I think that wealth redistribution via creating a new currency is completely just and proper. It is an implicit reward for creating a better way to trade, and it can only be obtained if you actually do create a better way to trade (and this is what Bitcoin speculators are, hopefully, doing). Wealth redistribution by printing money (a la the Fed) is evil.