Quote from: Skavenger on September 15, 2014, 11:21:12 PM

How would a central bank print magic bitcoins? thats what central banks do.

To the extent that people accept Bitcoin substitute instruments to be as good as the real thing (Bitcoin paper, checks, notes, deposits, etc.) the Bitcoin Central Bank could inflate the money supply with these pseudo Bitcoins.

People "in the know" like you and me will accept no substitutes and demand payment in the real thing.

So it all depends on how gullible the general public is. In other words without a lot of education we are doomed to repeat history.

However on the bright side, everyone I have taught about Bitcoin has "got it" and does understand, once explained, the difference between holding your own cash/value/Bitcoins and accepting a depository IOUs for them.