If the economy in the U.S. and or Europe implodes how do you see this happening?

Some say deflation some say inflation some say both.

Only the oblivious can ignore the obvious.

Anyway it is hard to wrap my wits around a complete collapse.

The USSR had a complete collapse but the government was so dysfunctional that perhaps people already had created viable alternatives in place.

I would find it hard to imaging that barter could replace the money as there would be no way to have any large scale division of labor or trade. Would this be an opportunity for Bitcoin to replace the money system?

Or would just be a slow gradual decline into a 3rd world economy?

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As cryptocurrency enters mainstream commerce, the need for the dollar and the pound will reduce, as will there value. Governments will not be able to monitor cryptocurrency transactions, and therefore will be unable to tax them. Government income will fall commensurately, so the size of government will have to reduce. Employment will rise sharply and civil unrest will become widespread. The big question is, will Governments recognise the potential for this to happen sooner rather than when its to late, and prevent it by criminalising cryptocurrency. I always take a Libertarian stance when debating economics, but i never actually want to reach that goal. Its useful to push in that direction but if the evangelical proponents of crypto have there way, then it will bring about the end of civilisation as we know it!

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