> then bitcoin will become more valuable as a function of time simply because the amount of "stuff" increases. > The reason deflation is bad is because it disc

> then bitcoin will become more valuable as a function of time simply because the amount of "stuff" increases. > The reason deflation is bad is because it discourages investment. I agree that economies are naturally deflationary because people don't stop working. So what? I think printing money is bad (as opposed to the concept of "inflation" which is an effect) is bad, because it distorts market mechanisms that occurr naturally - I'm talking about (more) efficient capital allocation here.