This may be a good thing for the early adopters, who are sitting on bitcoins and have not spent them. It isn’t good for the stability of a monetary system however, as there is a constant pressure for price changes, which in this case is prices for things, as expressed in bitcoin, will automatically increase.
There is another point. According to a recent article in the trustcurrency blog, bitcoin is
a rube-goldberg machine for buying electricity
quote: In the end, BitCoins create a perverse incentive to consume energy to “create money.” Here is why.
http://trustcurrency.blogspot.com/2011/03/bitcoin-rube-goldberg-machine-for.html
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