Good point on technology. I also doubt that the deflationary spiral is a big issue as it's made out to be. To prove it, I assumed that it is a big issue, and t

Good point on technology. I also doubt that the deflationary spiral is a big issue as it's made out to be. To prove it, I assumed that it is a big issue, and then proved that it isn't -- proof by contradiction. I think ultimately it all depends on how well a currency is designed or managed. An inflationary currency could outcompete an autonomous cryptocurrency in theory if it could introduce price stability as well as manage the macro economy. In practice this seems like an exercise in futility. Time will tell what happens with the current QE practices.