Bitcoin was envisioned by its creator to be used as a currency. To buy and sell stuff using it. If you ask today what is bitcoin you'll be told that it is a store of value. The purpose of money is not to be a store of value. It can be, but that is not its purpose which the case of bitcoin clearly illustrates.
> Interest on money loaned out is the only incentive required for putting money to "productive uses".
And what is the incentive to loan money in your system?
> Interest on money loaned out is the only incentive required for putting money to "productive uses".
And what is the incentive to loan money in your system?