If you buy yen for gbp, yen value goes up, gbp goes down
Go and try that at your local amex ccy exchage - change all your USD into XYZ - see if they change the price ... they dont.
At some point so much will be invested in bitcoin that it's value will be 51% of the known global economy
If every bitcoin possible was already mined, at todays value, it'd add up to the debt of Mexico, under 1% of the global economy
The illegal drug market is the 3rd largest industry in the world, if major players in this realise the power of bitcoin
Professional criminals employ people much more clued-up than you about all of this - they're already using bitcoins
When the world economy is primarily bitcoin
Right ...
would a few miners running at home make enough to substitute the basic costs of living
No.
you could tell/convince your boss to pay you in bitcoin by saying something like "hey, if you want to save money, pay me xx less, but pay me in bitcoin" because you'll be saving xxx from not paying tax for your government
Income is (in most countries) still taxable, irrespective of the payment method.
the bitcoin doesn't need to be registered anywhere
You do understand that every bitcoin transaction can be tracked ?
he's just paying you less now.
No, he's just paying you in a different way.
Because the people won't be paying tax for the government
Is there a special name to this magical world ?
7. End of Inflation: When only bitcoin exists in the market inflation will end.
As the value of bitcoin changes over time, it has an "interesting" relationship to inflation - if you can buy all the ingredients for a loaf of bread for 0.0001 BTC and you sell the bread tomorrow for 0.00011 BTC (making 0.00001 profit or 10%) what will you do when to repeat the process now costs you 0.0002 BTC due to the change in value ... it's still "inflationary" ...