I hear it all the time. Bitcoin/crypto is alternative to fiat. And almost every token philosophy is based on this premise.
The question: can cryptocurrency beat legacy financial institutions to the point of replacing them?
... Thought as much... The much lauded JPMCoin was all noise and no substance. But can an accident happen to make legacy institutions catch up to the decentralized world?
Bitcoin can't beat bank. Bank is an important tool to control country economy although the way that it use is really bad. Bank control the number of money that spread in the citizens by set the bank interest rate. High interest rate can make people save their money in bank so the inflation of money will be reduced. The money that saved there will be borrowed by industries to increase GDP. It is not a simple thing. But bitcoin price will rise because that system is no longer appropriate for this century. Bitcoin can be the best investment in this century. So bitcoin don't need to beat bank.