<p>It's possible, but with the current block size and lack of lightning network or side chains, no. Most likely people would do what they've done throughout history and use other forms of currency for daily use.</p>

CC BY-SA 3.0
2016-02-25T02:47:19.193Z
2016-02-25T02:47:19.193Z
Jimmy Song
<p>Could a world economy be based solely on Bitcoin? I mean the only mean to pay would be bitcoin.</p>

<p>From the point of view of economy would this be possible or would all the economy collapse?</p>

<p>Could we live only on Bitcoin, to make payments to work and so on, while this currency is so volatile?</p>

CC BY-SA 3.0
2016-02-23T12:53:33.587Z
related: [What would a country adopting Bitcoins as official currency have to reinvent?](http://bitcoin.stackexchange.com/q/256/5406)
Murch
<economic-theory><money-supply><scalability><adoption><price-volatility>
What would happen to the world if Bitcoin were the only allowed currency?
Jose Javier Garcia
# What would happen to the world if Bitcoin were the only allowed currency?

(Asked by: username_0 on 2016-02-23)

Could a world economy be based solely on Bitcoin? I mean the only mean to pay would be bitcoin.

From the point of view of economy would this be possible or would all the economy collapse?

Could we live only on Bitcoin, to make payments to work and so on, while this currency is so volatile?

**Tags:** economic-theory, money-supply, scalability, adoption, price-volatility

> **Comments:**
> **username_1**: related: [What would a country adopting Bitcoins as official currency have to reinvent?](http://bitcoin.stackexchange.com/q/256/5406)  

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## 1 answers

### Answer by username_2 on 2016-02-25. Score: 0

It's possible, but with the current block size and lack of lightning network or side chains, no. Most likely people would do what they've done throughout history and use other forms of currency for daily use.


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