Re: Deflation >A bad thing if you're trying to replace a country's currency system with it, and excellent thing if you see them as a store of value. This is th

Re: Deflation >A bad thing if you're trying to replace a country's currency system with it, and excellent thing if you see them as a store of value. This is the same as people complaining that any other asset deflates over time. Currencies aren't investments. They have little to no inherent worth. They're the medium used to make investments, and the medium that investments pay out to the investors. If you're approaching Bitcoins as an investment asset, you're missing the entire point of creating a new currency. Assets, on the other hand, have inherent worth. Gold is used for jewelery and in electronics. Fine art's worth is it's existence itself. BTC does not have any worth past the confidence in the other currencies used to exchange for them. The fundamental problem with deflationary currencies is that there is no risk in keeping it around, which removes a lot of the incentives for investing. People are encouraged to not use BTC because they will appreciate more doing nothing than actively going out and investing it. Instead, they'll hoard it until the point where it becomes too expensive for people to buy. At that point, there will be a run on the exchanges, which will kill the entire worth of the economy around it.