Oh, I don’t disagree with any of that—but if you hold jsalvatier’s view (and mainstream monetary economists do), you believe it’s necessary for a currency to get, not just more divisions of the money stock, but new “coins” entirely—and therefore don’t like the fact that the currency can’t be inflated. From that perspective, the high divisibility of bitcoins is no reassurance.
Oh, I don’t disagree with any of that—but if you hold jsalvatier’s view (and mainstream monetary economists do), you believe it’s necessary for a currency to get, not just more divisions of the money stock, but new “coins” entirely—and therefore don’t like the fact that the currency can’t be inflated. From that perspective, the high divisibility of bitcoins is no reassurance.