To me, a system that rewards extremely wasteful use of resources with work without use, is not fine.
I understand that, but pos isn't ready - maybe some day ...
Pow mining needs to be made usefull, but now look how Primecoin gets dumped. It's all not always rational.
Primecoin getting dumped and alts with low inflation not taking off in a huge way is all not rational behaviour.
Inflationary or deflationary, doesn't matter much anyway, what matters is that the deflationary or inflationary change is stable and predictable. A quality currency value has to be predictable to give it practical use in the economy. You just can't do proper business with a currency that's value is highly unpredictable.
'Inflationary or deflationary, doesn't matter much anyway'
It matters a lot when you are interested in the price. It is a major marketforce - as strong as the demand. Demand and supply are equal marketforces. But people generally tend to better understand the impact of the demand than that of supply on the market.
Look Bitcoin is predictable inflationary ... That's why we short a lot ...
Gold has value as a store of wealth because it is 'predictable scarce'.