I don’t think it’s that difficult to predict, it’s a step backwards historically. Kingdoms only had their treasuries to build with. With an empty treasury they either ceased to exist, stopped building, defiled currency to look like they were refilling the treasury, or refilled the treasury via taxes or war. Castles and cathedrals took centuries to build so they could pay as they went. Loans as investments allowed people to escape servitude of feudal lords. Now you can have a whole house or business… today without waiting…and use it to earn and pay it back and make more. Deflationary assets have a place, but if it is the ONLY thing then you will see the current hodlers just become the elite until someone decides they have had enough and revolts. Consider the quickest way for a bitcoin country to overtake another bitcoin country: war. Kill private key holders. Destroy their bitcoin. Complete destruction of another nation so your stack becomes even more valuable. You take fighting for resources to a whole new level.