Lack of oversight is the main feature, it only scares old women (not even all of them, who would have guessed but my grandma asked about btc in a call a year ago.) and why is deflation bad?
Deflation is supposedly bad because it encourages people to hold their money instead of investing it into businesses and new products.
The problem is that it is a prisoner's dilemma situation, where capital holders do not want to be 'encouraged' to invest their money even if it might be a net benefit to society as a whole.
No one invests for a "net benefit to society as a whole." They invest for a return, and you can NPV your project in both inflationary and deflationary environments.
The problem is that it is a prisoner's dilemma situation, where capital holders do not want to be 'encouraged' to invest their money even if it might be a net benefit to society as a whole.