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10 sats \ 1 reply \ @faithandcredit 13 Oct 2022 \ parent \ on: How would you respond to this question about doubting Bitcoin will succeed? bitcoin
I would argue that in a deflationary society people would increase consumption because over time they get wealthier. More wealth = more potential consumption
This would be admitting than a deflationary society is wealthier, so you win...
Anyway overall consumption would certainly be higher, as everybody is wealthier, but also much more rational as you can plan your future more accuratly than with a melting "store of value" which oblige you to waste your time and energy, investing in bubbles and other nonsensical ans useless assets.
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