None of these arguments is at all persuasive. "First of all, the present value of a perpetually appreciating asset is not infinity" Straw man. No one is clai

None of these arguments is at all persuasive. "First of all, the present value of a perpetually appreciating asset is not infinity" Straw man. No one is claiming the present value of anything has to be infinity. And I don't see anyone saying real estate is a good medium of exchange. "Second, there is a liquid market for Bitcoins." Another straw man. No one is saying there will not be any trade in deflationary currencies. The amount of Bitcoins that are not being circulated speaks to exactly what people don't like about deflationary currencies though. "Third, the marginal utility of money is diminishing." A true fact that has no impact on the criticism of Bitcoin because it's deflationary. Red herring.