>Why would you spend crypto when you could get more for it if you wait a week?
that never stopped capitalist from spending their money even if they make profit from their investment. If your logic was true, no one who has access to investment opportunities (eg. the stock market) would ever spend any money.
I think you're taking a stronger interpretation than what I wrote.
I'm not saying no one ever spent any crypto.
I'm saying that because it was deflationary, people tended to spend less than otherwise. This was so bad with bitcoin that it failed to be usable as a currency.
If my logic were true, then when interest rates were higher and people could make more money doing nothing, then people with access to investment opportunities would tend to spend less money.
that never stopped capitalist from spending their money even if they make profit from their investment. If your logic was true, no one who has access to investment opportunities (eg. the stock market) would ever spend any money.