I don't know why so many people are in love with the idea of deflationary nature of bitcoin.
Consider one important asset in the world that shares the key feature with Bitcoin that there is a fixed amount of it: land.
If you look out at the world, land possession is not just unequal, but also exhibits extremely low turnover. In Britain, 0.6% of the population owns 69% of all the inhabited land in the country, and they come mostly from the same families that owned the country in 1872 (the last time a major survey of land ownership was performed): http://www.independent.co.uk/voices/commentators/johann-hari....
If you look at say Manhattan, you see the same phenomenon. All the land is owned by old people and established families. It's a place where kids have to be much more successful than their parents to be able to afford to buy property in the same place.
Who can take a look at the deflationary nature of land, and think "gee, I'd like everything to be like this!"
Consider one important asset in the world that shares the key feature with Bitcoin that there is a fixed amount of it: land.
If you look out at the world, land possession is not just unequal, but also exhibits extremely low turnover. In Britain, 0.6% of the population owns 69% of all the inhabited land in the country, and they come mostly from the same families that owned the country in 1872 (the last time a major survey of land ownership was performed): http://www.independent.co.uk/voices/commentators/johann-hari....
If you look at say Manhattan, you see the same phenomenon. All the land is owned by old people and established families. It's a place where kids have to be much more successful than their parents to be able to afford to buy property in the same place.
Who can take a look at the deflationary nature of land, and think "gee, I'd like everything to be like this!"