It is not the basic consumer that anyone has to worry about, it is the investor and job creator that one has to worry about stopping cash flow through the economy, causing job losses which then do cause less consumer spending, and spiraling downward economic output. Deflation vs. inflation will hardly affect those who spend the vast majority of their income, assuming wages and prices are reflected similarly. Basic arguments about consumption totally ignore the greater systemic risk posed by deflation.
This is a fallacy. People will always buy what they
need, which puts a floor under any deflationary spiral. In the current system people are encouraged to consume for the sake of consumption, buying what they don't need, and worse, borrowing to do it. With a sound monetary system borrowing would be done for purposes of new and increased production - driven by legitimate market forces (not excessive FRB and CB-spiked money creation).
Further. Bitcoin is not even a deflationary currency. It just inflates at a smaller and smaller rate. The inflation rate in Bitcoin right now is about 11%, which is larger than any real GDP growth! Eventually it will be less than real GDP growth, but even then, lower prices and wages will not reduce living standards.