Deflation is not a tax. It comes from economic growth, leading to the growth in the demand for the asset outpacing the growth in its supply. Deflation does how

Deflation is not a tax. It comes from economic growth, leading to the growth in the demand for the asset outpacing the growth in its supply. Deflation does however accrue economic rent to currency holders, so is an economic inefficiency. Fortunately in a decentralized economy, multiple currencies can co-exist and seamlessly operate in parallel, allowing the growth of the total money supply to keep pace with the demand for currency.