Comment: Yes

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In reply to comment: Deflationary? "June 9, 2011 (see in situ)

Yes

Bitcoin is deflationary. The amount of Bitcoin units in existence over time follows a deflationary arc, not an inflationary one.

As for the value of bitcoin rising or dropping, yes, it certainly can go either way, and rapidly. Nobody I know has ever said it can't. People speculate (and invest) on this in fact, with differing opinions.