Quote from: Jaagu on March 27, 2013, 08:31:28 AM

"Bitcoin will take over as the currency of the internet. It will also take over as a store of value; why earn a measly, less-than-inflation interest rate in a savings account when you can have steady appreciation of value if you just keep your money in bitcoin? People will spend less and save more because they know if only they do that, they will be richer in the future. Companies will no longer produce things of no value, because no one will buy them. The world will become more efficient, because there will be less waste. Everyone will realize how much they lose by spending money on valueless things. There will be a more equitable distribution of wealth, because no one can inflate (or, to use a less charitable term, counterfeit) bitcoin at their whim."
- Ryan Dickherber. Bitcoin is the Economic Singularity. 2011-06-04
http://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html

Wouldn't majority of people be worse off in that kind of society. I'm not entirely sure how large part of population is needed to sustain the food and minimal production of other must have services. Can't be very large.

Also, this does go for speding deflationary currency. Most people prefer to have pleasure now than much later.