Post
Topic
Board Bitcoin Discussion
Re: How would an Economy based on BTC look like?
by
slaman29
on 05/11/2019, 09:19:51 UTC
Just as the title states. How do you guys think  a country with its only economy being BTC look like? Would it look like how western countries are of today, some Cyberpunk future, or maybe just completely mess up? Honestly, I think it'd look something like the current state of western countries, as if the only currency allowed is BTC, then in theory it should always balance out and be flexible.

You don't understand how economy works. There is no such thing as a BTC only economy. What would its export product be? What would they be able to SELL as a product or a service?

Mining BTC? Miners don't earn enough to run a country. And if all nodes were centralized there, it would remove the value of Bitcoin network. Not everything is a cure with Bitcoin alone...