We know that people don’t stop spending when saving generates more wealth, because:
The vast majority of people spend most of their money on necessities, so they can’t save more than they spend by default.
Those with additional wealth can choose to invest it for a greater return than inflation, essentially being in the same position as having deflationary wealth, and instead still have a social life, hobbies, entertainment, vacation, impulsive spending, and needless waste.
People will still spend on these things. Those that care about finances more than the above are already investing rather than spending.
I’m talking deflationary currency as an idea, but specifically about crypto as I don’t know enough to say.
We know that people don’t stop spending when saving generates more wealth, because:
The vast majority of people spend most of their money on necessities, so they can’t save more than they spend by default.
Those with additional wealth can choose to invest it for a greater return than inflation, essentially being in the same position as having deflationary wealth, and instead still have a social life, hobbies, entertainment, vacation, impulsive spending, and needless waste.
People will still spend on these things. Those that care about finances more than the above are already investing rather than spending.
I’m talking deflationary currency as an idea, but specifically about crypto as I don’t know enough to say.