Good currencies share certain properties: 1. Durability - bitcoins check. 2. Have no intrinsic value - check 3. Cheap to store - check 4. Encourage the "rig

Good currencies share certain properties: 1. Durability - bitcoins check. 2. Have no intrinsic value - check 3. Cheap to store - check 4. Encourage the "right" economic behaviors - debatable - since we do not all share the same definition. For instance, oil as a currency would be interesting, because much economic activity is tied to harnessing energy. Relative decline in oil reserves point to declining wealth. The problem with a guaranteed deflation scenario is that it leads to long term economic stagnation and lack of investment activity. There will be no good times to wait for.