No need to replace somethings because better to use fiat and digital currency like do save with fiat like 20% of your money for future then risk while you save here in crypto with 20% of your money then after that 60% of your money will use in real life like for your daily need then more,Moreover always look at the different worth of a things like example base in this question
Bitcoin is too volatile to remove fiat to our world. For me bitcoin is much more like an investment than a currency if we look at its price since then. If we use it as a daily currency, we could be rich or poor on that day. If bitcoin will be regulated and its price will stabilize then people like me won't be afraid to use it in a daily basis.
That's the problem. When people see bitcoin as an investment and not a currency. Why would you want to use fiat when you can use bitcoin? So many places these days are accepting bitcoin and also paying out bitcoin for work. Many websites that do referrals or website ads allow payment in bitcoin and it has been so for a long time already.
Eliminating fiat currency is a rather long process. I think it will take at least 50 years before the cryptocurrency industry completely replaces the current financial sector.
I agree. I think that is long enough. I think fiat will still exist for a very long time to come. People will call it old money and still use it.
I think it is inevitable that fiat currencies will lost their values in the process of time. But I don't think that the governments will be stubborn about continuing with fiat currencies in the future. They will create their own digital money.
This is the solution for the tax problem the governments are having. If they want tax mut be paid in their own currency so they are reluctant to let go of the old ways of fiat.
