Re: If we can see a country with 'Bitocin standard' monetary system
From the America history we can know that America was a Deflation economic system in few years. At that time USD was maintain and the prices was keeping a low average. This why we need a 'something standard' monetary system but not a credit credentials paper.
You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetray system , and show the Bitcoin savings address, what will happen?
Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not go high in a long cycle times.
You can imaging that if some 'third world countries' become a 'Bitcoin standard' monetray system , and show the Bitcoin savings address, what will happen?
Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not go high in a long cycle times.
It is very very hard to happen for big economies like China, Russia or US! Because bitcoin is simply not capable of scaling up to accommodate the growing need of trillions of transactions! However, it may be possible for small economies like Malta, Marshall Island, Tuvalu, Kiribati etc. They have small population and even smaller economy. So bitcoin will be able to standardize their economies and work as a reserve currency for them!
But countries with billion and near billion population, can't even think of cryptos as standard! It will be disaster for them!
Let us back to the subject, the fiat is controlled by goverment , and goverment can issue more and more new money, that's really disaster for people. We don't need a new currency to be used in any countries, all we need is a 'new standard'.
but it wont really be applicable if we do talk about to those countries which do have big economies.As long government do exist then theres nothing you can do if they would tend to
print more money.Come to think first on overall supply of btc alone, you can already presume that making this as a standard monetary system wont fit out.
Yes, i always talking about 'the third world country' to using 'bitcoin stantdard' , please read my words again.
We don't need to worry about the maxmium supply of bitcoin, we are lucky because satoshi gave us a decimal point splited bitcoin. More countries come to buy bitcoin will make single bitcoin more valueable.