> For a laugh, people bought pizzas and the like with bitcoin. Nowadays they hold onto it because it might be worth fiat money. Why spend something as money if

> For a laugh, people bought pizzas and the like with bitcoin. Nowadays they hold onto it because it might be worth fiat money. Why spend something as money if it could be worth 20% more tomorrow? Which is kind of the definition of a deflationary currency. We've been through all of this already with the gold standard: it was useful for a time, but the pros and cons have generally been weighed and the consensus seems to be not to use it.