It does have a way of making you want to hold onto your money and make less purchases, and the fewer purchases you make, the less money the other guy makes, the less he can afford to spend as well as the fact he also wants to hold onto his money and so on... will next stick around but only at the expense of the rest of the economy not doing well?
The argument for a need for inflation is part of the Keynesian Economic Model. This is a debt-based model. The traditional Austrian model is equity or ownership based, and therein there is no need for inflation. -- In fact, according to the Austrian model, a factor of deflation is expected: innovation and competition result in greater efficiency and thus greater value over time.
I mean I want to me a millionaire off of this and I am convinced I will be.. but will it be at the expense of everyone else not doing as well?
There is no guilt in doing well -- the whole process is not a zero-sum game. Additionally, I freely tithe 10% of my lifestyle. Also the 90% left I freely share with my family. If market capitalization flows into NXT it will do so because of its merits, and everyone therein benefits. The cliché` is: a rising tide brings up all of the boats.
I would think you could also argue that merchants would be willing to accept lower prices because they also feel that it'll be worth more and it'll all balance out.. I'm not sure that a few percent one way or another once the value of Nxt stabilizes would change my spending habits but what do you think? Will it be an issue?
This reflects the fear of a deflationary depression. Such a depression is simply a panic into liquidity. But the NXT network as currently constituted is the most liquid thing there is, and is based on equity and ownership, and not debt, so that does not apply. If and when debt comes dominate the NXT network, then it becomes an issue.
-- LeeO: NXT 8225732605502514703
