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.
It's possible for something of such nature to come in existence, only thing involves and also hindering it, is the time frame. because the tendency Bitcoin have secured height is showing evidence that in twenty years time bitcoin can be use to purchase road side materials very easy, because the rate of it inflation is at higher rate, which no average citizens of any country that doesn't know bitcoin, but in another hand, nothing can make Bitcoin eliminate Fiat currency totally no matter it's influence to the countries, fiat remain the pioneer of any other currencies.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.