The concern with the current price rise and deflationary aspect seems a bit short-sighted to me. The mining reward is algorithmically destined to fall to less than 1 Bitcoin per block somewhere around 2032 (https://en.bitcoin.it/wiki/Controlled_Currency_Supply), at which point around 99% of all Bitcoins that will ever exist will have already been mind. In the intervening years, Bitcoin has the potential (I dream) to draw in most or perhaps all of the global economy. The after-2030 state then looks like a more or less fixed money supply (99% is mined by 2060). This is early days. I liken it to the phenomenon of momentary shock sometimes experienced when one sits on a train, perhaps reading a book, and misidentifies what is seen out the window as the station suddenly moving. We're still getting up to speed. Lodewijk andré de la porte wrote: -- You're still left with the same problems though. Unless you can make the coin's real-life value constant in some way. Best I can come up with is increasing mining payout with the difficulty. That'll link the value of a coin to the cost of mining, directly. Meaning you can turn electricity into coin, but not the other way around. I suppose you'll need demurrage because else the coin will inflate beyond making mining cost neutral, and the mining rates will decline accordingly. Actually.. Why isn't this how Bitcoin worked in the first place? Maybe it just complicates things too much.