If Bitcoin is a currency with deflation property, that means BTC has to be appreciated (which in reality means BTC is a fancy collectible)
Therefore a rational BTC user will hold BTC rather than spend it.
but if no one spend BTC, then what's the point of such a currency?
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who can help me find out the fallacies in this reasoning? thank you!
Same reason why people buy food and stuff now even if they know they can get better/more next year. Otherwise, if the argument holds true, then nobody should be spending money on cars or computers since a better one will always be made next year therefore a "rational buyer" will hold out infinitely for the better item than buy an inferior one at any "now".