> I think this all remains to be seen. What remains to be seen, everything he said it well known economics. > we're not going to notice any deflationary issue

> I think this all remains to be seen. What remains to be seen, everything he said it well known economics. > we're not going to notice any deflationary issues with the currency. You're already seeing it. Who wants to spend a currency that keeps increasing in value... that _is deflation_. > I suspect that once we do reach the top, we'll discover that bitcoin deflates rather predictably and boringly. I don't think you understand deflation. > I just don't see the doom and gloom here. Because you don't appear to grok deflation. When the demand for a currency spikes, as bitcoin is now, and the supply is unable to increase to handle that demand, deflation occurs and the price of the currency sky-rockets. Deflation isn't just about the size of the money supply, it's about the size of the demand of the market in relation to the size of the money supply and if a currency can't expand supply to meet that demand then it'll deflate to meet it and that makes it a terrible currency because it punishes spending and rewards saving, exactly the opposite traits of a good medium of exchange.