Questions on: money-supply

The answer to your question can be found on the Bitcoin wiki. It's true that everyone can mine, but the amount of coins that are up to be mined by miners is controlled by the Bitcoin protocol. The difficulty of mining a "block" is adjusted automatica
In the Ripple system we have two types of currencies - ripples and all other currencies useful for transacting with people in your web of trust. Ripples are the only currency in the system that can be used for paying transaction fees and transactions
Regarding the granularity problem: Here is a worst case scenario: M2 Monetary Supply is 66 trillion. If it all moved to BitCoin, each coin would be worth 3. 1 million dollars
Fiat currencies can only exist as debt. If you have them, and they're not in your physical possession, it can only mean that someone owes them to you. This is the same way it works outside the Ripple system
GDP (and most other stats you would think to use for this) can't be accurately determined by the network without trusting someone. The network can only see the movement of BTC; it has no information about non-BTC currencies, goods, or services. For G
It cannot be done easily. It can be done, if the majority of Bitcoin nodes agree with a given replacement solution. It probably won't need to be done unless the human population increases by orders of magnitude and/or all live American lifestyles AND
The Bitcoin protocol is also hard-limited to 21 million bitcoins, meaning that no more than that can ever be created. This means that no central bank, individual or government can come along and simply ‘print’ more bitcoins when it suits them. In thi