Sounds like a whole lot of fun. The elderly and many of the disabled people would starve to death, as there would be no more pensions or welfare money.
When you have spent your last Bitcoin, if you get sick or unemployed, prepare to die. Say hello to 80+% unemployment in society. Most common sight would be poor people begging in the streets, homeless.
How the hell would the government collect taxes to fund the state if there was only Bitcoin. Guess the government with the police and everything else just went out the window too. Good luck making it to old age in this fun new world. Looting, robbery, murder and extortion would be a daily occurrence.
Replacing fiat with Bitcoin would destroy society as we know it.
fun ? lol .
pension are going to stay , btc didnt kill all the necesities that people need and we dont even know if its possible to replace fiats because if that is possible we dont have our fiats now but if let say it happens , pension are going to be payed by btc and btc would be more super easy to use for elders and youngsters .
unempleyment has nothing to do with the fiat and btc but if you are wise and you invest , save and have an education .
you can secure your life in the future .
No, pensions are not going to stay if bitcoin replaces fiat, because the government wouldn't have any btc to give out for pensions or for anything else for that matter. What, do you think they can just print BTC like they print fiat?
As for the unemployment, it has almost everything to do with it in todays modern society. Fiat is the bloodstream of the economy that keeps it all running as it should.
Well, they could hold you up at gunpoint and force YOU to give your BTC to some old woman so she doesn't starve to death. But then again, what about all the other elderly that would starve to death.
