[notahacker]

> It might create a deflationary economy in that everything gets cheaper over time, priced in bitcoin. What is so wrong with that?

Because then investment ceases to be about trying to capture a share of the growing pie, and more a zero sum game which the small minority of people holding most of the financial wealth have little incentive to participate in, and so the mechanism by which stuff gets cheaper over time, priced in Bitcoin, isn't economic growth but just increasing desperation of people without Bitcoin to obtain it.

So all the worst parts of capitalism and none of the actual good parts, though I appreciate the idea is more appealing to people who imagine themselves as being the minority of idle rich.

For related reasons, the world would not adopt a deflationary currency for very long...