Quote from: Puppet on March 25, 2013, 05:26:41 PM

Im saying you cant use it as a universal currency to replace credit money.

Does it have to replace credit money? If what you have been saying is true, it should cause economic collapse without even having to compete with credit money as currency, its mere existence should be enough. However your debate with MoonShadow seem to indicate otherwise.

(Sorry if I'm making an odd statement, isolating the problem helps me understand the argument better.)

Quote from: Puppet on March 25, 2013, 05:26:41 PM

Quote

My question is, why being able to invest in another scarce resource does not result in stagnation?

Your answer seems to be:

Land isn't as liquid
Gold isn't as scarce

YOu seem to look at money purely as an investment. To me its prime function is facilitating commerce and enabling economic prosperity.
Bitcoin might be suitable for the former; its far less so for the latter.
Pretty much like gold and land.

No, I'm just perfectly convinced that the deflationary aspect will not hinder its usage in commerce. The claimed harmful effects of deflation seem to focus on the investment aspect.

It seems to me that, if the assumption is true, no one will make an investment if it likely will not outperform the economy. The problem I'm having with this is that it should already be the case. I guess we both exhausted our arguments about this, so time will tell...