[margalabargala]

> If your logic was true...

I think you're taking a stronger interpretation than what I wrote.

I'm not saying no one ever spent any crypto.

I'm saying that because it was deflationary, people tended to spend less than otherwise. This was so bad with bitcoin that it failed to be usable as a currency.

If my logic were true, then when interest rates were higher and people could make more money doing nothing, then people with access to investment opportunities would tend to spend less money.

Which is exactly what we are currently seeing.