Interesting points, although Bitcoin is actually disinflationary, not deflationary (ie follows the same type of supply curve as gold does) which negates much of that argument. I wrote about it here:

https://medium.com/original-crypto-guy/no-bitcoin-is-not-deflationary-e0d0a3e3d4a4

I've never really accepted the 'greater fool theory' argument quoted in your last line being applied to Bitcoin as this can technically be applied to any asset in an open market, but this still does come up from time to time.

I'm wondering if you've read "The Bitcoin Standard" by Safidean? You clearly have a good grasp of macro economic factors - I'd be interested in your view on it. Link here: https://amzn.to/345bDgh

And thanks for reading and commenting, much appreciated.

I blog on things I am passionate about: Bitcoin, writing, money, life’s crazy turns and being a dad. Lover of learning, family and cheese. (jasondeane@msn.com)

I blog on things I am passionate about: Bitcoin, writing, money, life’s crazy turns and being a dad. Lover of learning, family and cheese. (jasondeane@msn.com)