> they say that the fact that it is deflationary and can not see inflation is a good thing, when it is actually a bad thing. There is a reason the target inflat

> they say that the fact that it is deflationary and can not see inflation is a good thing, when it is actually a bad thing. There is a reason the target inflation is at ~2% almost everywhere. We need inflation to keep the economy going. Looks like it is instead the author who has a misunderstanding of basic economics, in the seminal paper in monetary theory, Optimum Quantity of Money, we find “optimal monetary policy would involve a steady contraction of the money supply at a rate sufficient to bring the nominal interest rate down to zero—is one of the most celebrated propositions in modern monetary theory.”[1] The reason we target a small inflation rate is chiefly to try to keep the nominal interest rate 0 and secondly because it doesn’t risk a deflationary recession. Israel for instance often targets a negative inflation rate [2]. But due to apprehension and perhaps some politics, many nations follow something similar to the Friedman K-Percent rule [3]. > they say that it's a currency, when it's not. It is not accessible to everybody (not everybody has access to internet). This being true would imply to Zimbabweans the Sterling isn’t a currency since most don’t have immediate access to it, yet the British are happily using it as so. This is not a good nor mainstream criteria for a currency. But either way, in today’s day and age, money is already indisputably digital. Yet just like one redeems physical dollar at an ATM he may do so with cryptocurrencies such as Bitcoin Cash. The only good point is volatility but that can be fixed and is not inherent to the blockchain cryptocurrency technology. [1]https://www.sciencedirect.com/science/article/pii/S157344980580027X https://www.sciencedirect.com/science/article/pii/S157344980... [2]https://www.statista.com/statistics/375241/inflation-rate-in-israel/ https://www.statista.com/statistics/375241/inflation-rate-in... [3]https://en.m.wikipedia.org/wiki/Friedman%27s_k-percent_rule https://en.m.wikipedia.org/wiki/Friedman%27s_k-percent_rule