If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
There are many things that can happen, both positive and negative at the same time I do think some of the things that can impact the bitcoin environment are :
1. People switching to bitcoins means the Volatility have to go down, since they would be using it on a regular basis.
2. The government might try and centralize the whole economy, which would mean sooner or later there would be more impositions.
3. The value of Bitcoins might undergo price correction since now companies might switch to other cryptocurrencies which might provide them more benefits. Without volatility it might be hard keeping in the investors.