No I don't think it will replace fiat as the governments just won't approve due to the lack of control they can have with Bitcoin. But hey I can be wrong, anything can happen in this strange little world.
well do you or the bitcoin community have controll over the ressource waste that bitcoin causes?
at least banks are tools of governance from a bigger more common perspective, chinese government have their point and their reasons when they see bitcoin only burdening their infrastructure, and messing up their reward system for the upkeep of it. after all there is more than half a billion people looking on them when it comes to infrastructure security.
arent you afraid that you will one day be considered like a bunch of lunatics that waste a ton of energy that could have been used to feed millions of children, to create something you call "valuable".
a witchhunt then might not be far away, considering what it is from outside.
the "mining facility" i am developing with others arent called "bitcoin mines" they are called distributed "cryptographic computation facilities".
and we have our reasons for this. sitting in a glass house makes you blind for what you are from the outer perspective.
regards