Please, read my previous example and tell me where I'm wrong.
Deflation discourages investment (real capital accumulation) and that is definitely bad for the economy.
Of course, my example assumes an economy with just one currency, which will never be the case for bitcoin. I don't think deflation will destroy bitcoin, but I don't like the deflation is innocuous/good dogma shared by many people here.
As someone pointed out in a thread called "about hoarding", deflation makes bitcoin less suitable for commerce. Having alternative mediums of exchange, it will make the currency drop in value, which will eliminate the deflation. Deflation will not destroy bitcoin, but it will prevent it from having a healthy financial market.
Remember that lending you're also saving. There's no need for hoarding to save.
And please don't answer me with the flaws of inflation because I don't advocate for it and I'm with Hayek in the fight of the century. Just in case, I'm not keynesian!!!