Have your ever imagined a world where Bitcoin is the predominant currency for mainstream payments? A world where Fiat no longer exists as people rely on Bitcoin as a global unit of account. That means, people will no longer value things based on Fiat, but rather Bitcoin itself. You would pay for things directly on Bitcoin (for instance 0.000025 BTC for a cup of coffee) without the need to worry about its current exchange rate (or price) relative to Fiat. If that happens, then Bitcoin will "stabilize" effectively proving its use as digital cash. With a country like El Salvador adopting Bitcoin as legal tender, we may be one step closer to "hyperbitcoinization".
Do you think it's possible Bitcoin will become a "global unit of account" in the future? If not, why? What would a world without Fiat really look like? Your input will be greatly appreciated. Thank you.
you and I understand that bitcoin is better in every sense of fiat, and most countries understand this, but they do not want to change today's system of exchange of values, because this will undermine what they have been building for many years, I would not mind paying with bitcoin, most here are for two hands, but large countries are not willing to accept bitcoin.Do you think it's possible Bitcoin will become a "global unit of account" in the future? If not, why? What would a world without Fiat really look like? Your input will be greatly appreciated. Thank you.