I think the "deflation can't work" people are making the same mistake as the "interest can't work because one penny will eventually be worth as much as the weig

I think the "deflation can't work" people are making the same mistake as the "interest can't work because one penny will eventually be worth as much as the weight of the earth in gold" crowd ("Joseph's Pfenning"). They interpolate incorrectly. In the case of interest, some borrowers go bankrupt (which is fine, because the world needs risk taking). In the case of deflation, presumably at some point people will want to buy things. They can not hold on spending forever because they might starve. In any case it seems obvious that the price of one Bitcoin can not go to infinity, because there is nothing of value "infinity" on earth. From that it follows that the deflationary dread scenario has to come to an end at some point, just like Joseph's penny can not accumulate interest long enough to be worth the earth in gold because all his lenders will go bankrupt before that.