What would happen to Bitcoin if everyone started using it as Currency? The market would be total Chaos and the value change would be dramatic every hour.
Discussion
#[2] can you answer this question? It would be chaos right?
It depends on the details. Would it be completely replacing all currencies worldwide?
Yes, let's go with that since the Crypto community wants this dominance
The transition would be total chaos, but I’m not sure how it would look after. Deflation and economic stagnation would be an issue.
Most of the bitcoin is already mined and owned by someone so how it’d be distributed is a mystery.
It depends on the number of people (adoption). When the adoption is big enough, the Bitcoin currency will act as unit of account (along with other features it already has).
When it happens, the prices will be measured in sats, not in fiat, and it will tend to deflate a bit in a pretty predictable timeframe.
But we are not there just yet. ☺️