>A thought experiment: how would an economy run solely on a Bitcoin-like currency behave? And how would it respond to business cycles? Similar to how it behave

>A thought experiment: how would an economy run solely on a Bitcoin-like currency behave? And how would it respond to business cycles? Similar to how it behaved during the gold-backed dollar era. "Money shortages" were a thing often leading to market corrections during the early 1900s. This book references it several times: https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Operator https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Opera...