How would an economy built on Bitcoin look like?

I hodl bitcoin since it started to fascinate me in 2016. I can see the brilliance of the whole concept but I'm not an economist. So the question I have is how an economy backed by Bitcoin as financial standard would differ from an economy whose financial system is backed by the never ending printing of fiat money. I know it's a broad subject to cover, but what would it mean to the people living in such an economy. How would it change their financial situation? Would it put an end to poverty and inequality? Will inflation or deflation still exist an have impact on our purchasing power or would Bitcoin made in end to this? How would money supply be regulated or is their nothing to be regulated anymore? Could such an economy survive and would we all live well and prosper? Just curious to hear your ideas and comments on this.