There is a huge competition between cryptocurrencies, many believe just dynamic and self fulfilling ideas with different properties and a variety of incentives may survive! Others expect fiat money will leave behind reliance on quantitative competition!
I think cryptocurrencies are not able to defeat fiat currencies without changing nations culture and ethics! what do you think?
At first I thought that crypto currency was intentionally created to replace fiat currency but now I realized that it was not designed that way. cryptocurrencies that continue to emerge are proof that this business continues to grow and has fierce competition. Cryptocurrencies were created to improve the obsolete human financial system and will continue to coexist with fiat currencies.
The replacement of the fiat system by bitcoin would without a doubt be something awesome for us but if we are honest it is incredibly difficult that something like that is actually going to happen at all, as governments are not going to want to lose control of the economy and the ability to tax the wealth of their population, however as long as we have in bitcoin an alternative which we can use to store our wealth then the negative effects of fiat will be greatly reduced.