I was wondering as Bitcoin is represented in the public and media as a
deflationary currency (for more adept media as payment protocol). Is it really deflationary?
Deflation is described on Wikipedia as:
In economics, deflation is a decrease in the general price level of goods and services ... This allows one to buy more goods with the same amount of money over time.
Inflation is described on Wikipedia as:
Economists generally believe that high rates of inflation and hyperinflation are caused by >an excessive growth of the money supply.
At the moment there is really an excessive growth of Bitcoin supply - in the past 4 years there was mined over 12 millions of bitcoins and will continue with every block rewarded by c. 2140 when all bitcoins are expected to be mined. So there will be only transaction fees as block rewards, which will end the growth of the units supply.
Can we consider Bitcoin as inflationary and deflationary currency until 2140, because there are still new bitcoins generated until c. 2140?