Deflation is "bad" in the way that it postpones consumption.
Imagine you wanted to buy a new TV set and you knew that next month its price would be lower, it would be quite rational for you to postpone your shopping until next month.
But then again, next month, you would knew that the price will drop more if you wait more...
Deflation is good for hoarding, bad for consumption whereas
Inflation is good for consumption, bad for hoarding.
Well said. The 'bad' is in terms of our current paradigm.
Over-consumption is encouraged by 5% inflation and 1% risk free returns on treasuries. I wonder if the world wouldn't be a better place with only BTC as currency. Saving would soar (hoarding) and we would all live within our means (no debt). Deflation would become a function of population increases and productivity gains; others' successes (e.g. new home built, new company, etc.) would make all BTC holders wealthier incrementally and pro rata.