alt Hacker News> Deflation is a good thing, it rewards delayed gratification.
"Delayed gratification" is also provided by investments producing returns. An economy with lots of investors will outperform one where people stuff their cash into their mattress, and deflation makes it very hard for potential investments to beat that strategy.
> For most of human history the money was stable.
[citation needed]
The Spanish empire was driven to collapse by hyperinflation. Even in the US, there were financial collapses in the 19th and 18th century. Bank runs have been a thing for as long as banks have: https://en.wikipedia.org/wiki/Bank_run
Your premise is based on faulty assumptions. The existence of credit itself is what causes monetary instability, and without credit the world would look very different.
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credit does provide a kind of flexibility that is sometimes needed, though. However, predatory lending, and the endless stacking of recursive loans, and government money printers are a massive stability issue that we're running into globally, and have (as you say) run into multiple times, historically.
My thought on this would be a dynamicaly stable currency. estimate debt and transaction activity, and the more debt and more liquid activity there is, the more deflationary currency should be. the less debt there is, and the less of a percentage of the money is actually in-use, the more inflationary the currency should be. this, though, is fairly off-the-cuff.
> The existence of credit itself is what causes monetary instability, and without credit the world would look very different.
Indeed. Credit is money; ultimately anyone can expand the money supply with an IOU.