[albertgoeswoof]

> Think of it as a high-risk hedge against future hyperinflation - the Fed can expand the monetary supply arbitrarily to infinity; but Bitcoin's expansion is limited by design.

That's true of bitcoin, but not bitcoin forks. You can just fork the chain and there's your dilution / inflation e.g. Ethereum classic, Bitcoin Cash, both of those are taking value away from the Bitcoin and deflating the currency futher.

[AElsinore77]

This is a very interesting point. One distinction I'm getting hung up on is that this dilution is in the form of a different currency (Ethereum classic, Bitcoin Cash), not in Bitcoin itself. So the "dilution/inflation" effect comes in the form of competing currencies. In these events, do you have a sense of what mechanisms might affect whether the new currencies gain traction?