Well if you would have paid some attention I am the OP myself
Woops, missed that, sorry. I cut out nested quotes because they're hard to read.
I am not the one wishing for a crypto only financial system
So if you want to say that Bitcoin was not created with an intent to replace dollars then you are really mistaken.
Actually, I am not against making it a national currency or even with it but the point is if this is not the goal then what do you mean by Widespread Adoption? Because I don't see a great future with cryptos and fiats going hand in hand.
I'm confused, so let me clear things up a bit with the quotes above:
- You don't want a crypto-only financial system because it won't work as per your example in the OP
- You believe that crypto was created to replace dollars
- You don't think crypto coexisting with fiat will work well in the future
The first point contradicts the second and third points unless the ultimate point you're driving is that: only one of Bitcoin or fiat can stay, and Bitcoin staying won't work. Are you basically saying, like your title asked, that Bitcoin is just not that good of a currency?
1. We all are pretty aware why Bitcoin was created in the first place. Atleast the person who said this hasn't exactly said this but the advocates of Cryptocurrencies the old forum users say that it is here to replace the current financial system
2. I personally feel that blockchain technology is something revolutionary and so is bitcoin but bitcoin has it's own limitations which i mentioned above.
3. Due to these limitations government would not advocate Cryptocurrencies in long term so they can't go hand in hand. So what I am trying say is exactly that bitcoin's survival as currency is really difficult in such circumstances.