The deflationary-spiral argument is pretty much as old as Bitcoin itself, and in my opinion quite overrated. Sure, the Euro and the Dollar themselves are infla

The deflationary-spiral argument is pretty much as old as Bitcoin itself, and in my opinion quite overrated. Sure, the Euro and the Dollar themselves are inflationary currencies, but because of interest your buying power increases when you keep your money locked in a savings account rather than spend it today. Yet consumers spend their money on trivial products every day rather than saving it to let their wealth grow. Sure, the current volatility is so extreme that it might induce hoarding, but as the Bitcoin economy grows and matures this should eventually decline to acceptable levels.