Something that has been unclear to me is how will governments survive when fiat is nowhere to be seen and all or most monetary transactions happen via cryptocurrencies.
Since one of the most attractive aspects of crypto is that its anonymous and decentralized, how will governments be able to keep track of money and tax it.
firstly governments dont care about bitcoin. governments are comfortably sitting on their legislations that keep fiat in circulation.
in short.. as a real example
the UK does not care about the Euro currency becoming popular because the UK has legislation to keep the pound in circulation. so the euro could be used more popularly wherever it likes hand to hand, but the banks, taxes, fines and salaries of the UK will still be measured in pounds.
popularity will not cause a economic change.. legislative repeals need to be done.
bitcoin wont change things through a popularity contest. it has to be a political contest.