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.
We are all hopeful about this way back but seeing the downfall of crypto's price made us hopeless about the issue. There's still a possibility though but it has decreased a lot to the point that there are only few people who are still faithful about crypto's ability. We can still uphold our hope about it but let us know our limits.