As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?
As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?
Bitcoin is created as an alternative payment system to those who need another currency to use aside from the fiats. The high volatility of cryptocurrencies might make it unacceptable to use as one of the main currency to stabilize an economy. Its decentralized feature will also one of the factors why governments rejects it because they can't control it. But I believe, bitcoin can do a lot of help to every individual who want a currency that are free from the manipulation of governments and central banks.