How would a bitcoin only economy work in theory?
How would a bitcoin only economy work in theory? Been keeping track of BTC for a while and have always had these nagging questions about its feasibility as the "future" of currency. I like all the not tracked, no third party involvement, etc (i.e. all the advantages of having an online currency that should most of the time be safe). However, in economic terms I have always had a hard time getting my head around how it would feasibly work as the prime currency of a country (to keep it simple). I guess the closest analogy there exists of such a system is the gold standard right way back when. However, and please correct me if I'm wrong, the issues with the gold standard, principally that when theres no more new gold, theres no more growth, doesn't apply to bitcoin. From posts on this sub and others, it seems that the vision is that when bitcoins stop being made, whenever more money supply is needed, the demand for bitcoin will increase and thus price will as well, thu...