A research consultant for Canada's Central Bank has said that a gobal bitcoin standard would fail although there would be good and bad effects to monetary policy. Positives include predetermined supply increase whilst the negatives include restricting policy levers for central banks.
"A bitcoin standard would have two major benefits over current fiat money standards. One is that there would be greater price-level predictability due to the known, deterministic rate at which new bitcoins are created. A second is that the resources currently devoted to hedging against fluctuations in exchange rates would be freed up to be used in more productive ways."
