Bitcoins circulation is not large enough to power an entire country let alone the world. It can become a de facto standard of moving wealth/value, but will remain so as a fatherless/motherless currency (at best).
Bitcoin has its fair share of problem (confirmation takes too much time, the 51% forking issue remains, number of transactions per second is limited, block size issues, etc.)
It will most likely not die. It will definitely become an important currency to allow cross-border trade amongst various facets of business society, from free-lancers getting paid, to cross-border remittance rails.
However, it will not be the final straw or the final currency that we will see.
Yes. Bitcoin opened avenues on how peer-to-peer value exchange can be done (using the blockchain).
But all these are problems Bitcoin Version 2.0 could solve and be adopted. Who knows the next variant of LiteCoin or Dash or Ethereums Ethers could be exactly what we are looking at. The concept of Bitcoin gets my Yes vote for the future of money. Governments will realize the power (and benefits) of digital money - some already are, but cash and other paper instruments still remain. At some point in time governments might just issue their own version of the bitcoin enabling transactions without the need of intermediaries. I think that's true. Bitcoin has captured market opportunities so well. The increasing trend of internet users worldwide becomes a strategic moment of Bitcoin's presence. Especially with the development of the potential of global e-commerce business that encourages the global community to conduct cross-country trade transactions.
In the era of global commerce, the public needs an easier, faster, safer, transparent, efficient, and most reliable base exchange. They believe bitcoin technology is capable of replacing banking technology systems that require resources, cost enormous, time-consuming and vulnerable correction of human error in recording all world financial transactions. Bitcoin is seen as more practical and fitting as an alternative option as a currency.

Yes and No, and let me explain both:

No. Bitcoins circulation is not large enough to power an entire country let alone the world. It can become a de facto standard of moving wealth/value, but will remain so as a fatherless/motherless currency (at best).

Bitcoin has its fair share of problem (confirmation takes too much time, the 51% forking issue remains, number of transactions per second is limited, block size issues, etc.)

It will most likely not die. It will definitely become an important currency to allow cross-border trade amongst various facets of business society, from free-lancers getting paid, to cross-border remittance rails.

However, it will not be the final straw or the final currency that we will see.

Yes. Bitcoin opened avenues on how peer-to-peer value exchange can be done (using the blockchain).

But all these are problems Bitcoin Version 2.0 could solve and be adopted. Who knows the next variant of LiteCoin or Dash or Ethereums Ethers could be exactly what we are looking at. The concept of Bitcoin gets my Yes vote for the future of money. Governments will realize the power (and benefits) of digital money - some already are, but cash and other paper instruments still remain. At some point in time governments might just issue their own version of the bitcoin enabling transactions without the need of intermediaries.