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People ended up using crypto as a stock investment instead of as a currency and then they're surprised it gets taxed as a stock investment.

I mean, it's currency. Trading currency is pretty old, so I doubt anyone was surprised here.

Your typical currency is inflationary though, which unlike crypto generally makes it a bad long term investment.

Plenty of crypto tokens are inflationary. Some are deflationary. Some are both, based on supply and demand.

Let's be frank here, just about most of them are deflationary.

Bitcoin, sure.

Ethereum and it’s many stablecoin tokens, Solana, Polkadot, Tezos, all do not have fixed supply and may be inflationary at times.