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?
Even though i am a fan of cryptocurrencies because they stand for financial freedom and decentralization, i just can't see it happen in my lifetime that cryptos will replace FIAT completely or even for the most part. This is not that good in my opinion because traditinal FIAT money is still controlled by the countries and by the federal banks which means no freedom for the it's "users".
I do think though that cryptocurrencies are defintitely becoming more and more accepted in the world slowly but surely and i also think that a lot of that has already happened in the last few years. I hope and think that the adoption of crypto continues with that speed in the coming years.
You are right and I think that one of the things why they are being accepted is because governments and banks cannot go against the tide, it is for this reason that now governments are giving BTC and crypto the go-ahead through regulations , so that is the way that governments will let BTC and crypto into the countries so that it is seen that they still have control even if they use cryptocurrencies, but this I think will be provisional, because people will seek to do everything anonymously without giving a cent to governments or banks, that is why any scenario in acceptance or adoption can occur.