"A thought experiment: how would an economy run solely on a Bitcoin-like currency behave? And how would it respond to business cycles?" The same way money has

"A thought experiment: how would an economy run solely on a Bitcoin-like currency behave? And how would it respond to business cycles?" The same way money has existed for thousands of years but without the kick the can down the road of debt crushing future generations that has been a post WW2 global economic phenomenon? When the currency collapses or a new currency is put forth, then you will know the power of Bitcoin. "But MUH bitcoin hodlers who don't have electricity in Venezuela, what good did Bitcoin do them?" Ask the ones who were 1) smart enough to hold Bitcoin 2) Left Venezuela if they preferred to leave with A) Cash B) Gold or C) Bitcoin when they left.