<html><head><meta http-equiv="Content-Type" content="text/html charset=us-ascii"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;"><br><div><div>On Jan 15, 2017, at 12:49 PM, Dominik Zynis <<a href="mailto:dz@ioresources.com">dz@ioresources.com</a>> wrote:</div><br class="Apple-interchange-newline"><blockquote type="cite"><div dir="ltr"><div class="gmail_extra">><span style="font-size:12.8px">It is worth noting, BTW, that the bitcoin block chain is *not* what provides security against theft. </span><span style="font-size:12.8px"> </span></div><div class="gmail_extra"><span style="font-size:12.8px"><br></span></div><div class="gmail_extra"><span style="font-size:12.8px">Some consider inflation created by a TTP (i.e., a central bank) a form of theft.</span></div></div></blockquote><br></div><div>Sure, but that is obviously not what I was referring to.</div><div><br></div><div>As an aside, the underlying situation with respect to inflation is actually exactly the same for both bitcoin and fiat currencies. Bitcoin could inflate if a majority of the mining pool agreed to a change in the protocol. Likewise, inflation in fiat currencies can be halted by government decree. The presence or absence of inflation is simply a policy decision. It is completely orthogonal to the technology used to implement and enforce that decision.</div><div><br></div><div>rg</div><div><br></div></body></html>