If Bitcoin fans think it's easy for workers to "adjust to a world in which their paychecks shrink, so long as their money grows in value even faster," they need to explain why that didn't happen in 2008-9, or 1930-33! https://reason.com/archives/2018/07/22/bitcoin-standard-ammous-blockchain-gold#comment … @DavidBeckworth @NickSzabo4
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Nor should you. But neither should anyone suppose that we need not discuss the possibility that a Bitcoin stand. may call for some non-trivial wage deflation on occasions, and that this could prove troublesome. This isn't dismissing Bitcoin.
Far more than we can possibly contemplate is possible. Almost all of it must necessarily be ignored, especially by those who obsess over a single financial effect during a single very uncommon decade, to the exclusion from finite brains of knowledge & common sense in general.
