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?
Cryptocurrencies serves for two main purposes and thats for investment and being a payment method. Cryptocurrencies are mainly assets and cant be used for any other thing apart from that purpose they were meant for. If you are expecting local currencies to be replaced with cryptocurrencies, then Im sorry cause its not going to work at all. Local currencies have their own purple of which they were made, same thing applies to cryptocurrency.