Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.
If bitcoin replaced totally to fiat money we are convenient in terms of processing and about your question what is possible problem we face and how lifes would be if ever bitcoin totally replaced. Same as normal situation but the technology big change to our life bitcoin will bring us to high standard level of all things.