>it has always been tempting for private finance to create too much money. There is no evidence that money born on a distributed ledger will be clean of this sin.
That's not true for Bitcoin, disregarding the various other coins. The supply is effectively capped and it is economically much more similar to gold where in the long term the price roughly equals the mining cost to fiat money where that doesn't apply.
For use as a normal currency bitcoin is probably creating too little money. For normal currency you want the value to be roughly constant not to double quite often.
That's not true for Bitcoin, disregarding the various other coins. The supply is effectively capped and it is economically much more similar to gold where in the long term the price roughly equals the mining cost to fiat money where that doesn't apply.
For use as a normal currency bitcoin is probably creating too little money. For normal currency you want the value to be roughly constant not to double quite often.