Andreas Antonopoulos on Singularity 1 on 1: "Bitcoin is not currency, it's the internet of money!"
http://www.youtube.com/watch?v=KW_wYvZ1eZg
http://www.youtube.com/watch?v=KW_wYvZ1eZg
Antonoplis is great, but he overlooked a few issues on why deflation would not be a problem, namely that Bitcoin is not and likely never will be legal tender. The supply of bitcoin is finite but the supply of cryptocurrency is not. If there is not enough liquid BTC, then BTC derivatives or something like litecoin can fill the gap.
Maybe I am missing something, but why would there be 'not enough liquid BTC'? If there is too little value available, BTC prices will rise and compensate for the lack in liquidity, no? Why would anyone buy other stuff than the thing that keeps rising in value?