[MikeNomad]

Interesting article. I am not a bitcoin user for a reason that the article seemingly underscores: Bitcoin lacks stability. This makes me sad, because I would very much like bitcoin to succeed.

The more I look into it (and I may not be looking at it clearly), the more bitcoin seems like a digitized version of what we currently have in MeatSpace: An unbacked inflationary currency.

I think worrying about scaling in mining activity is a problem in search of an audience.

If miners hit the wall, and are not able to put more coins into circulation, there is an opportunity to stabilize coin value by having demand tempered by supply. Also, with bitcoin (or any other digital currency) there is the capacity for psuedo-infinite fractionalization of coins.