It won't ever replace FIAT.
Fiat can scale infinitely because it is centralized. There are zero bottlenecks with FIAT.
If some magic happens and Bitcoin replaces FIAT however, it would be same as FIAT without any physical bank notes...
Bitcoin supply is limited and it is cornered by a few people. It would be total chaos and the governments would fall and the next world war would begin.
This is definitely right!
Even on my wildest dreams i never think off that bitcoin would able to replace fiat.Do we really think that government would just allow for those things to happen?
Decentralized things cant able to placed on whats had been used for thousand of years which is money, maybe in different forms but government do still handle it out.
What if question? I cant think off because there would be lots of situations will happen along the way.They cant just simply allow for this
thing to happen.
I absolutely agree with you about this. Fiat can't be totally eradicated by bitcoin. This can't happen for several reasons. I'd try to list some here.
Bitcoin can only totally eradicate the use of fiat if only everyone and every businesses in all the seven continents is educated about the use and benefits of bitcoin, uses it and accepts it as a payment option.
Secondly, the governments of countries won't just sit by and allow bitcoin take over. Trust me, they wouldn't subscribe to that. The best that can happen is that bitcoin and fiat currencies exist simultaneously just as they are now.