In addition, one of the purpose of Bitcoin is to have a universal currency. It can be used for any transactions but it will still be the traditional currencies that business would prefer as it is less volatile. Also, as stated above, traditional currencies are being run by the government where in businesses are registered in. No country will prefer to have this as a main form of transactions.
If more people adopted Bitcoin and if it had full governmental support around the globe, and by support, I don't just mean legislation, but also creating programs to enlighten people with the information needed to understand how the crypto world works, maybe working on taxation, price stabilization - it would become much less volatile and businesses could be run using crypto without a problem. The fiat system is going to fail sooner or later, so it would be better if the govs could accept it and start working on a strategy to implement cryptocurrencies in the best possible way instead of fighting it.
So in short there would be some harmonious acceptance towards it?We are all hoping into that certain extent or recognition but it would really be on the impossible side of things.
There's no way that fiat could really be replaced off and also crypto was created not for the sole purpose on replacing the traditional system.Even though it does check out the boxes
but it wont really be still fitting out into that criteria.
Crypto would be just good as an alternative and wont really became a mainstream.