"in an ideal Bitcoin economy people wouldn't need to convert to USD"
So how do you think they will pay their taxes? How do you think businesses will repay their loans? Do you really think the US government will accept Bitcoin tax payments, or that banks would be stupid enough to issue loans in a deflationary currency that conveys no legal protections?
Bitcoin's only real value in its ability to ultimately be sold for a fiat currency.
So how do you think they will pay their taxes? How do you think businesses will repay their loans? Do you really think the US government will accept Bitcoin tax payments, or that banks would be stupid enough to issue loans in a deflationary currency that conveys no legal protections?
Bitcoin's only real value in its ability to ultimately be sold for a fiat currency.