[spot]

it's turns out people don't like to get a pay-cut on a regular basis.

this is a fact of human psychology that's a real barrier to your system, and unless it is addressed, bitcoin will continue to fail.

[mdpopescu]

Yes, this is the only real argument against deflation: people tend to look at the nominal prices instead of the real ones. (See also Mark Twain on the subject in the Yankee at King Arthur's Court.) This is a problem because, as the money increases in value, business would want to decrease the nominal salaries, and people would object to that.

[oafitupa]

People don't like to work either, and yet they do it.