isn't the real problem with bitcoin becoming a global currency an issue
   of how to best manage the potential exponential growth in size of the
   blockchain?
   i know this is cypherpunks but please explain like i'm five...
   regards,
   javier

   On Mon, Nov 25, 2013 at 6:32 PM, Andy Isaacson <[1]adi@hexapodia.org>
   wrote:

     On Mon, Nov 25, 2013 at 07:04:51PM -0500, David Vorick wrote:
     > Your problem is if bitcoin becomes a world economy. That means
     bitcoins
     > usage grows by something like 2 orders of magnitude. Except that
     bitcoins
     > are already halfway mined, which means that the circulation will
     not keep
     > up. That is what drives the price up.
     >
     > If you want a currency that will scale with it's global usage (IE
     when the
     > market cap hits $21 trillion, there are 21 trillion in
     circulation), you
     > need some mechanism that knows how to equate 1 bitcoin to 1
     dollar, that
     > way more bitcoins can be printed as the market cap goes up.
     Fractional bitcoins work just fine (down to 1/100,000,000, per
     [2]https://en.bitcoin.it/wiki/Satoshi ). If BTC goes to 100,000 USD
     we'll
     just start pricing things in "thous" or "mils" or something similar.
     In other words, there are already 12 quadrillion Satoshis in
     circulation, plenty to absorb any further deflation.
     -andy

References

   1. mailto:adi@hexapodia.org
   2. https://en.bitcoin.it/wiki/Satoshi