saying that "if there's supply inflation, spending is flight from a melting asset" in contrast to "the hard cap rewards production and patience" is too binary. you don't need a hard cap to incentivize thoughtful spending. as evidenced by millennia under a gold standard. neither does algorithmic supply inflation cause currency debasement. it is a tax on all network users that pays for the security of the network. as opposed to Bitcoin, which ultimately ONLY taxes people who make transactions, further disincentivizing usage as money. so, except for small groups of idealists, Bitcoiners do not and will not spend their sats because "generational wealth." the hard cap turns money into digital real estate.