Post
Topic
Board Economics
Re: CAN BTC SURVIVE WITHOUT FIAT CURRENCY ?
by
nanotube
on 03/07/2011, 18:57:14 UTC
this has nothing to do with mining at all

once we have enough people accepting bitcoins, we have complete economic cycles in btc, wherein merchant accepts btc, then pays his supplier in btc, the supplier pays his supplier in btc, they pay their employees in btc, the employees use btc to buy stuff they need, etc.

there will still have to be some exchange into fiat for the purposes of tax payments - but that's a separate issue.