TCB Short - Won't Bitcoin Fall into a Deflationary Spiral?

Today we answer the question: Won't Bitcoin Fall into a Deflationary Spiral? Will Bitcoin Trigger a Deflationary Spiral? Productivity, Inflation, and AI Abundance TCB addresses the objection that Bitcoin would cause a deflationary spiral by encouraging hoarding, arguing instead that deflation is often the natural result of free-market productivity gains. It distinguishes “bad deflation” from collapsing credit (e.g., debt crises) versus “good deflation” from innovation and efficiency, n...