[Gettingolderev]

The deflationary by design is a fallacy.

It will lead to old investors becoming richer and richer but also for new investors to stop investing because the spread is going to become to big.

And deflationary by design doesn't protect bitcoin by collapsing and it will happen alone through the reward halfing in no time.

[kjksf]

Bitcoin is deflationary in the sense that the supply is fixed at 21 million. And because people also loose access to their Bitcoin wallet, the actual supply will slowly decrease.

That's just a fact of how technology works. It's better phrased as "supply of Bitcoin is fixed".

As to your other arguments: I don't really get the connecting logic or even the point your making.

What is the "spread" that will stop new people from buying Bitcoin?

Can you explain the "Tom got very rich on Bitcoin and therefore I won't buy it today even though the price goes up because reasons..." logic?

Also what does reward halving have to do with the price of Bitcoin? The mining business will eventually end but as long as Bitcoin price goes 2x by each halving, the mining is is just as profitable.

Of course Bitcoin price can collapse. It already did a couple of times. But it also recovered and then some each time.

Given that prices of anything are driven by supply and demand, supply is fixed, the only question worth asking about Bitcoin is: will the demand go up? If demand goes up, the price goes up. And vice versa.

[Gettingolderev]

Bitcoin supply is fixed, the denominator is not.

If i invested into bitcoin 10 years ago, my $1000 are now worth (i don't want to calculate it) like $1000000.

So if someone else now wants to invest into bitcoin today, they have to accept that the old people have a tremendes financial advantage to this. The spread is a lot.

And no its not the same as investing into a company.

This will lead to rich people not investing into bitcoins because their return value is getting smaller and smaller.

Because the new bitcoin numbers are getting less and less through halfing, this effect gets stronger and stronger.

Bitcoin is hard limited on how much bitcoin exists while the normal fiat world creates new money based on humans and work capacity we have through a complex system. Bitcoin has not solved this problem. You can't lent bitcoins, create value and return this amount as an addition to the whole amount of bitcoins to represent this value.

[chgs]

The supply is not fixed, it reduces every day when people lose their keys, hence its deflationary

[Gettingolderev]

Sure if we want to account for that, but that makes the effect, i mentioned, even stronger and faster.