"It's the denominator, stupid" (Groking Bitcoin's inexorable rise)

Another bitcoin maximalist who thinks he's discovered some amazing new invention that will make him rich and change the world.

Yes it will change the world:

- thousands of people losing all their money every time it crashes every few months.

- it will use up the energy that we need to live our day-to-day lives - in fact it uses as much energy as a country. Everyone knows that using energy is something we should avoid as much as possible, especially for things with no intrinsic value.

- governments and banks will no longer be able to regulate the currency supply in order to meet our carefully planned goals

As for the fixed 21M denominator, even student economists know that you have to be able to increase the money supply or else there's not enough money to go round as prices go up. These people really need to speak to a registered and accredited financial adviser urgently - I worry for them.