You do have a point there, mate. Even with the inception of credit cards, fiat currencies still exist in our world. Cards have not managed to replace fiat, but instead serve as a complement to fiat currency. The same thing could happen with Bitcoin and other cryptocurrencies as they become used alongside other fiat currencies in the mainstream world. Since Bitcoin lacks many properties of the Dollar, it would make it impossible to replace it anytime soon.
It is extremely volatile, non-fungible, and very slow, making it hard to become recognized as a true currency and rival against the Dollar. But, I do believe that the Dollar will become stronger in the long term as it shifts itself from being physical to digital in a privately-owned ledger by the FED. This will become a major improvement to the well-known fiat currency as it delivers greater transparency, efficiency, and costs reduction. Once the US realizes the true benefits of blockchain technology, the Dollar would be no longer printed and only exist as a digital currency in our world.
When that time comes, other national currencies will follow it, and fiat currencies will survive alongside cryptocurrencies for years to come. Just my opinion
Nothing of what you said makes any sense. If the FED creates a private ledger, how will that increase transparency? It's a
private ledger. What you want is a
public ledger.
The dollar will never be printed? Yeah right. And maybe we'll no longer need water, since we'll all be cyborgs who use solar power for energy.
In fact none of us will ever leave our home, we will be living in a virtual reality where everything is done online. No need for utilities anymore or paper money. But if theres a power outage, or can't afford internet we're screwed and will be sent to the poor house to receive sandwiches as payment. The price of the internet will skyrocket, as they know having the internet will literally be a matter of life or death.
/sarcasm
Also, there is no reason fiat currency will be stronger than bitcoin. If a rich person starts to sell items using bitcoin, and you can buy essential items with bitcoin, fiat may slowly die away. It's all up to whether people want to buy and sell goods with bitcoin.