Other motivations exist when using deflationary currency other than hoarding. I don't believe btc deflation is bad.
Fiat currency can also rise and fall 10% in a single day. Problem is that moving the market that much in every day is impossible due to a huge market cap, which BTC does not have.
All cryptocurrencies are not user friendly. Cold, hot wallets, privacy issues, what is the best way to store them, how not to accidentally lose everything etc.
Mass adoption depends a lot on user friendliness which a bunch of cryptographers aren't concentrated on solving.
So, it won't be used as a currency not because of its deflationary nature but because it's just not as convenient as fiat currency.
Scaling issues are also a big blocker. Currently, BTC transaction fees are higher than those imposed by banks. It's no longer a cash, just a store of value.
Core devs are behind a private company, trying to milk the blockchain even more, which will also lead to bitcoin not being used as cash, but they'll sell their own sidechain and offchain solutions, probably just to enterprise.
Blockchain tech is great tech. Cryptocurrencies like Monero are absolutely brilliant. But I'm doubtful of mass adoption, mostly because torrents, free software, as amazing as they are, and convenient for superusers, don't have mass adoption too.
Fiat currency can also rise and fall 10% in a single day. Problem is that moving the market that much in every day is impossible due to a huge market cap, which BTC does not have.
All cryptocurrencies are not user friendly. Cold, hot wallets, privacy issues, what is the best way to store them, how not to accidentally lose everything etc.
Mass adoption depends a lot on user friendliness which a bunch of cryptographers aren't concentrated on solving.
So, it won't be used as a currency not because of its deflationary nature but because it's just not as convenient as fiat currency.
Scaling issues are also a big blocker. Currently, BTC transaction fees are higher than those imposed by banks. It's no longer a cash, just a store of value.
Core devs are behind a private company, trying to milk the blockchain even more, which will also lead to bitcoin not being used as cash, but they'll sell their own sidechain and offchain solutions, probably just to enterprise.
Blockchain tech is great tech. Cryptocurrencies like Monero are absolutely brilliant. But I'm doubtful of mass adoption, mostly because torrents, free software, as amazing as they are, and convenient for superusers, don't have mass adoption too.