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?
I think not. There are a lot of poor families out there that does not know the very existence of bitcoin and cryptocurrencies. Poor people that forever be dependent on fiat money because they cant simply avail themselves of this technology.