I think it is not ok, and I think that the deflationary nature of Bitcoin is a wonderful practical example of the problem with deflation. To the best of my kno

I think it is not ok, and I think that the deflationary nature of Bitcoin is a wonderful practical example of the problem with deflation. To the best of my knowledge bitcoin does not seem to be used as currency that much. It's explosion in popularity is not matched in explosion in currency usage. And why would it? If you, for example, buy a toaster online with bitcoin and it keeps appreciating, this toaster may end up costing you a $1000 in a year. If bitcoin were to fullfil its promise, a large portion of online transactions should take place with bitcoins. AFAIK, thus far this is only happening for illegal drug transactions, for which there is no other alternative. Thus far bitcoin is something people buy and hold hoping it appreciates. If they are tired of holding it, they sell it back. It is not a currency, it is an object of investment/speculation.