The answer is yes. You simply create a digital currency with the rate of work toned back to sane levels that actually represent the far slower changing value of goods & services without Bitcoin's hyper-deflationary junk bubble economics. The issue isn't that crypto-currencies aren't useful, the issue is the completely arbitrary and nonsensical "economics" behind wasting hundreds of billions of $ in energy costs over their lifespan is almost completely divorced from reality of the real-world economy.
That will either not be secure, or will not be decentralized.
I'll just say that there's a reason Ethereum is switching from PoW to PoS. Not that I expect you to know what that is. Your understanding of the space is clearly lacking, which is pretty understandable. During the initial years of the internet, people had the same opinion about it as you are having now about crypto.
What is a "normal currency"? One that actually fulfils the criteria of one : 1. Short term stability (no wild month by month volatility to actually give faith for native pricing), and 2. Liquidity (no currency shortages when used on a larger scale). Bitcoin has failed miserably at both every single year of its life. Currencies by definition are supposed to be stable, ie, not supposed to go down OR up. Why do you think China don't want a mega-appreciating Renminbi and underpeg it to the USD? Because it would make exports more expensive and less competitive vs neighbours. "Bitcoin economics" would literally kill off any country's export economy stone dead.
Oh. I guess you don't know there's such a thing as DXY (the dollar currency index). And currencies are not "stable", otherwise there would be no Forex market. They are artificially kept stable through pumping of money, I.e. inflation, I.e. stealing your wealth.
Just FYI, from March of last year to now, the value of the US dollar dropped 13%.
And from 2001 to 2008, it dropped a whopping 42%. So much for "stable"...
The "elephant in the room" is that everything completely falls apart when you do native pricing (set a static price in BTC, not simply price in USD then work out the USD -> BTC exchange rate) with massive day to day fluctuations. Imagine being a baker seeing the price of bread in Bitcoins change from 2 to 0.002 in the space of mere months when literally nothing about the demand for bread, bakery operating costs, supply of wheat, population size, etc, is changing more than +/-5%. Pretend the USD doesn't exist, and there's only BTC vs Bread. What do you think a 1,000x change is supposed to be "reflecting"? The bubble "values" are completely worthless vs actual real-world trade, which is why almost nothing (except Ransomware) is priced natively in Bitcoins. It's priced in USD, EUR, etc, and the Bitcoin equivalent gets asked for then rapidly exchanged back into something more stable.
If you compare the price of bread to Gold, Silver, or Oil, or whichever other commodity, the same applies. Have you ever wondered why some places you go to on vacation are cheaper than where you live, and others are more expensive...?
If the US dollar doesn't exist, there is no other value to compare it to, and ultimately all prices stabilize based on how many satoshis a piece of bread is worth.
Saying Bitcoin must be 30000:1 vs the $ "because fiat is worthless" is complete nonsense because if you price up "fiat" in tangible commodities (eg, the value of USD measured in barrels of oil / tonnes of copper / bushels of wheat), literally nothing has soared in value 30,000x in 10 years relative to the USD (if $50 oil was set to 50BTC at 1:1 10 years ago and all fiat disappeared leaving only native BTC, do you think after 10 years that BTC equivalent of $0.0016 is a "fair price for oil" bearing in mind it still cost many thousands of times more to actually produce?
Consider how many trillions of dollars exist. Then consider how many Bitcoins exist.
Now consider that only the dollar and a million units of some product exists.
Now consider that only bitcoin and a million units of the same product exists.
Right now we have about 2 trillion dollars in circulation, the fair price for one unit of that product would be 2 million dollars.
Right now we have about 20 million bitcoin in circulation (rounded up for ease of calculation), the fair price for one unit of that same product would be 20 bitcoin.
That means that in this scenario, each Bitcoin is worth 1 million dollars.
Now, fiat can be printed indefinitely. Say that in a couple of years, there are 4 trillion dollars in circulation. Bitcoin will only ever have 21 million in existence. For ease of calculation, let's round it to 20 million again... That means, that in those couple of years, the value of Bitcoin will have practically doubled compared to the US dollar to 2 million dollars. That's how it works.
If all fiat currencies disappeared overnight, and you valued BTC in commodities year-on-year, the illusion that Bitcoin's 30,000x "wealth increase" per decade is anything other than an artificial hyper-deflationary bubble would instantly pop (and the only thing propping that up is ironically a fiat-like faith that it's "worth" solely what someone is still willing to pay, not because it's backed by anything). What a few geeks who are great at explaining Blockchains but extremely cr*p at economics really want with this stuff is a digital get-rich-quick scheme, but keep trying to dress that up to be something it simply isn't. Repeat after me - Currencies are not stocks...
On the contrary; Bitcoin would have to be adopted by everyone. That means that those 21 million Bitcoin will have to be divided among ~8 billion people.
To again put things in perspective, we now have 2 trillion dollars in circulation. If everyone on the planet had the same amount of dollars, assuming a population of 8 billion people, everyone would have 250 dollars.
If we have 20 million bitcoins in circulation, and everyone on the planet had the same amount of Bitcoin, they would all have 0.0025 Bitcoin.
Therefore Bitcoin, if used by everyone (not everyone uses dollars either), it would literally be worth 100k times more than the US dollar.
