> The more the value continues to increase, the better it seems as an investment, and the more people lean towards holding instead of spending. This is called

> The more the value continues to increase, the better it seems as an investment, and the more people lean towards holding instead of spending. This is called currency "deflation" (the opposite of inflation), and it's one of the key things that central banks try to control. If a currency is gaining value rapidly, then it makes more sense for people to hold onto it, no one buys anything, and the economy drives to a halt. In these cases, central banks may print money to lower the value of the currency. The effects of how it would play out with Bitcoin are probably different, as it isn't close to being universal, it travels across political borders, no single economy relies on it, and it's under no control. Sounds like an Econ PhD thesis.