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jhuffman comments on General Bitcoin discussion thread (June 2011) - Less Wrong Discussion
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The price itself doesn't indicate hyper-deflation. That price could be the product of years of single digit deflation. Hyper-deflation I think can only happen if there is a run on most real goods - where people are literally in a panic to exchange their goods for rapidly decreasing numbers of bitcoins. Otherwise how would it feed on itself the way hyper-inflation does?
Unfortunately I don't know enough economics to sustain this discussion past this point, so I'm going to refrain from further making things up. I assume you have a good question, and I recommend you put it to someone who can answer it.