Replacing banks and fiat currencies has never been a goal of bitcoin, bitcoin was created with the intention of giving people the option to make transactions all over the world without the intervention of a third party, and this is something that bitcoin had begin doing since day one, so it is not necessary for the development of bitcoin to replace banks or anything like that, would that be a welcome outcome by me? Yes, but I am realistic and I know governments are never going to allow something like this.
Yeah, it’s very clear that cryptocurrency is not going to be replacing the banks at all. The only thing is that the government will keep trying as much as possible to see if they can regulate the cryptocurrency market/ecosystem. They are able to regulate part of it, because of the centralized exchanges that we have now. Why they are still unable to take over the whole ecosystem is because the market has become really huge now with miners across the world, and so many people making use of decentralized exchanges.
If it was very easy, then they would have have done everything possible to put an end to the cryptocurrency we known today. Finally, bitcoin has its own and I believe that it is accomplishing that, while fiat and the banks are on a different lane.