[spurgu]

Hmm. Ignore the existing coins for a moment, let's just imagine that starting today everyone gets their salaries paid in bitcoin and that's the only currency you can use.

Assuming the value will slowly (and for the sake of argument steadily) increase, would consumption and innovation stifle to a halt and everyone turn into hodlers?

Saving money would become attractive yes, and loans would become expensive or unrealistic (depending on the rate of deflation).

And companies/businesses would value a steady and solid stream of revenue/profit over hysterically chasing constant growth.

Would this really be so disastrous and why?