I may not buy a pizza with my bits, but I'd sure as hell buy a house, pay off my student debt, or whatever my proverbial lambo is. I only have enough BTC for really one big ticket purchase in my life, even if it increases in value forever.

Actually, a deflationary currency is an interesting concept for Basic Income- if everyone is given an amount of BTC at birth, so that it appreciates in value by the time they're old enough to spend it, they have a nice nest egg to build off of.

Of course, it only works if the currency circulates. I wonder if there's real world examples of deflationary currencies. Has it ever been tried?