Whenever you think you're smarter then Krugman on economics take a step back, apply Occam's Razor and realize you're probably suffering from a cognitive bias.

Whenever you think you're smarter then Krugman on economics take a step back, apply Occam's Razor and realize you're probably suffering from a cognitive bias. Krugman's simply making a bigger and simpler observation: costs of stuff in bitcoin over time haven't just been slightly deflationary over time, they've been massively deflationary such that there is no incentive to ever use it for actually buying things. This is sufficient to reject it as a currency on the first pass without looking at anything else. Maybe it will stabilize at some point and at that point can be evaluated on other merits.