Earlier quoted context omitted.
Deflationary currency encourages savings, inflationary currency encourages spending. We're just so accustomed to a world where our money is steadily becoming worthless that sometimes we forget there are other options.
The "inflation/deflation" argument is a red herring. The shape of mining curves is much more important than their upper limit. For all of the bluster that deflationary systems are better for the little guy because their wealth isn't eaten by inflation, the logarithmic mining curves are the biggest source of wealth consolidation seen perhaps in human history, shifting absolutely bonkers amounts of wealth from latecome…
Early adopters making a bunch of money doesn't concern me at all because that's a short-term issue compared to the USD wealth transfer which will continue forever into the future.
Crypto is new, and there's definitely a lot of volatility there with new coins popping up and being destroyed far more frequently than legacy currencies. I expect this will die down over time.
FWIW my time horizon for thinking about these things is 50+ years.
Imagine I tried to convince you to use my new foo-coin. The hand full people of who have the most foo-coins can issue themselves as many new foo-coins as they want, but nobody else can create any foo-coins. You would probably think this is a nonsensical currency that no one would think is reasonable to use. Except that is practically how the USD works. The USD is designed specifically for the purposes of corruption.