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Board Beginners & Help
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What do you think would happen if bitcoin replaced a countries currency?
by
DerKorb
on 24/10/2013, 18:04:30 UTC
It's often said bitcoin attacks the states monopoly on printing money.
Assuming there would be a point in the future, where in a country bitcoin got more important than the regular currency that country used. So the regular currency would suffer immense inflation and all the people decided to only accept bitcoin, thus taking the state the ability to print new money. How do you think this would affect that states social systems. What if the state would not be able anymore to pay for its citizens needs? What if this led to a system where the old and the sick would not have any support by the state?