[ucha]

Bitcoin has plenty of issues but being deflationary isn't one of them. Real estate is deflationary and people do not refuse to trade land.

[calciphus]

Lots of people refuse to trade land because they think it will be worth more in the future. Look at the housing markets of major cities. And that is when you have a highly localized set of potential buyers.

[asynchrony]

Real Estate has a certain real world utility.

[api]

Land would make extremely poor money.