Bitcoin is without a doubt one of the scarcest assets in the universe, as its supply is completely insensitive to its demand.<p>Is this extremely deflationary model, where the early adopters have a disproportionally large advantage over people that begin to use the system later on sustainable though?<p>I guess my question is more philosophical, but will latecomers/later generations put up with a monetary system that is of such nature?
Bitcoin is not used like money.<p>Prices are not denominated in Bitcoins. Nobody is taking 10-year loans in bitcoin. There are not jobs where the wage is denominated in bitcoin in the contract. Prices are set in normal currencies and then converted to bitcoin when the payment is made. (prices denominated in currency is different from using currency for payments).<p>Bitcoin based monetary system would be crazy. It's not going to happen.