but its not the same because you allow for economic expansion by lowering the hurdle rate.

If you have an *only deflationary environment (as under a capped money standard) you incentivize hodling. Its just a fact, we already see why.

But sure, the inflation rate is arbitrary. Lacking a trustless way of doing it, an informed but arbitrary rate is selected and the economic network will adjust to that.

But a low and arbitrary inflation rate is better than an arbitrary cap on the number of units.

In an only deflationary environment we probably wouldn't have much monetary deflation at all

but only because we wouldn't have much economic expansion.

A small amount of monetary inflation is a healthier situation.

essentially I'm suspicious of the idea that a fixed number of units somehow magically sets the hurdle rate at the "best" level.