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.
As for me, there would be lots of things to consider before having crypto in replacement of fiat. We all know that most of the countries are clueless about crypto. We should consider informing people about it first before they adapt it. Fiat is still the most common way of transacting these days.
If government regulate bitcoin, i am believe many people will find an information about it. Most government wont regulate bitcoin because they wont lose control on money supply