I was thinking about how great bitcoin is vs combatting inflation but what about deflation?
Say bitcoin gets lost or if there was a malicious intent of destroying / hoarding bitcoin, are there any mechanics within bitcoin that address this?
Am curious but this is one of the largest problems i could think of if btc were ever widely adapted
I think the intention was to make it deflationary. This way it keeps gaining value over time while fiat loses value.
It seems to me that such terms for Bitcoin are irrelevant because only Fiat can be subjected to inflation or deflation. Bitcoin is a self-sufficient currency, which in itself regulates its value depending on the demand.
Deflationary is not necessarily a "good" thing, because economies are supposed to grow anyways. I wonder if they can match inflation rate algorithmic-ly with growth rate GDP.