I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?
Bitcoin is designed as an alternative of fiat currency and not as replacement. But if the government adopt Blockchain technology, it would be possible to have a cashless society. However there are many challenges because in Blockchain technology, government cannot reproduce another coin that can support the nation in case of emergency unlike in fiat they can easily reprint another bills if they want to.