Bitcoin is scarce, gold is not. For example, El Salvador just found trillions worth.
It would take a majority of the miners to vote (by running a fork of the software) to increase supply, which goes against their own economics.
Which is a bug:
* https://en.bitcoin.it/wiki/Deflationary_spiral
* https://isps.yale.edu/news/blog/2014/06/the-perils-of-bitcoi...
“Bitcoin is not affected by this because it is fundamentally different from popular currency.”
The other arguments given are unproven and doubtful.
See the links in the post about the problems with deflationary currencies. See also the links of events that were made worse by finite/deflationary currencies; reposting:
* https://en.wikipedia.org/wiki/Great_Bullion_Famine
* https://en.wikipedia.org/wiki/Long_Depression
> the problems with deflationary currencies
That's where you are mistaken, Bitcoin isn't a currency.
How is it a bug?
Bitcoin is scarce, gold is not. For example, El Salvador just found trillions worth.
It would take a majority of the miners to vote (by running a fork of the software) to increase supply, which goes against their own economics.