Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
A country's fiat cannot disappear without the country disappearing with it. I dont' think it's possible atleast for the next hundred years. Additionally from an economic perspective..Capitalism works because we have fiat that the government could directly inflate. If you introduce a monetary system that cannot be inflated the whole thing just blows up.