Comments by "Handsome_Hero" (@illegalsmirf) on "Does Bitcoin Have Intrinsic Value?" video.

You should also address the deflationary impact of BTC becoming the sole bearer of value. If you hold something which has absolute scarcity then you rightfully expect that its value goes to infinity with the passage of time. Hence, you will be reluctant to sell (or exchange for something else) your Bitcoin under any circumstances. This will have an enormous deflationary impact since people will be far less likely to spend money or exchange goods and services unless they really have to. This has good impacts (reduces waste, consumerism and increases prudence, saving, the quality and durability of goods etc) and bad impacts, one of which will be many millions of jobs will go. Has the world ever been in a situation where its money supply was absolutely scarce with no prospect of minting any new money ever again? How is this resolved?
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