Sigh most people are so stupid.
No the US would be like any other failed currency state. People would hoard ALTERNATIVE currencies and shun anything that has to do with the state. For some it might be Bitcoins, for others it might be Euros, Canadian dollars, gold, etc.
I could see that happening.
Hoarding what was purchased by 0.01% of the population for 1/10,000 the price, means the public is destitute beyond comprehension. It is a
dystopian outcome.
Let's say the general public, on average, is a bit uneducated on these kinds of things. They see this magic new crypto currency - I could see them all jump on it.
I'm not saying it would be smart - just me having a low opinion of the average person on the street.
They can't all jump on it. Their existing assets will be worthless way before 1% tries to buy Bitcoin. Just do some simple math to see that Bitcoin's model can't possibly scale to any other than death and destruction and war.
Goldbugs never seem to learn economics. You must continue to debase the currency, else it can't ever work as a currency. It is simple mathematics.