The Bitcoin supply has only been inflating at consistently lower rates (e.g., ⅟ₙ₊₁ after 𝑛 blocks when the Bitcoin block reward was fifty bitcoins), so a progressive reduction in spending would seem to be expected under the economic theory.
But it is currently inflating more than the dollar and yet spending has not increased.
Can Keynesians ever be right or has there been any instance throughout history where they have been right? Other than 600 years ago when tulips happened. Once.
Generally speaking, Bitcoin spending has not increased because its inflation rate has
decreased.