there's spending for necessities and theres investment in new and daring projects.
yes people will always seek to buy what they absolutely need.
they greater the deflation, the more people restroct purchases to what is absolutely necessary.
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There’s a tipping point tho. When it becomes “affordable” remember all the early bitcoiners buying homes and lambos? Those are not necessities.
the thesis is that on a hard money standard, monetary deflation will disincentivize innovation and economic growth
not that shitcoiners wont buy trivial stuff when they get lucky