How is bitcoin an improvement on money? Why is a standard on a physical or digital asset desirable, especially when the asset is rare. Wouldn't this unnecessarily restrict monetary policy?
One of the major limitations of a pure debits-and-credits system like Taler is that it has limited speculative interest. It can't be gamed for returns on investment, so it can't initiate the boom-and-bust cycle.
If my national currency was going up like bitcoin spending would decrease a lot. Why you'd you buy a car today when you can buy it in a month and spend 20% less? The economy would stop functioning.
And when the value of currency falls people want to spend it as fast as possible.