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Deflation is exactly why Bitcoin is flawed. Why would I buy something today if it's cheaper tomorrow? When people stop spending our current system grinds to a h

• btcnoob 13y ago
  Agreed, it's difficult to see why anyone would spend BTC instead of USD, except for anonymity or multi-sig transactions.
• userulluipeste 13y ago
  "Why would I buy something today if it's cheaper tomorrow?" Because you have needs, and some of these needs can not wait and needs to be satisfied now. Some of your needs may be ignored for a while though, and you'll be reluctant to spend on satisfying them. Yet, you'll decide to spend eventually (if you ever really wanted to buy whatever satisfies the postponed needs). That's because we have only that much time in our life (I doubt hoarding in itself is that rewarding on our personal level). Also, the deflationary money may not be the only thing that accumulates value. A piece of land in a developing place may start accumulating value more rapidly than the money does. Won't you decide to buy if the item bought looks like a better investment compared to just holding money?