I don’t follow your point about deflation. Ultimately price change has to be neutral in the medium/long run. Simply, interest rates would become higher becaus

I don’t follow your point about deflation. Ultimately price change has to be neutral in the medium/long run. Simply, interest rates would become higher because of deflation. If I lend you 1 Bitcoin today and value will be 1.1 tomorrow, I need to factor that in the interest rate I ask you, on top of the prevailing real return to investing. In my view, the problem it’s a matter of transaction costs induced by continuosly changing prices.