I was recently talking to a friend regarding BTC (we're both university students thinking about venturing into bitcoin and blockchain development) and we got into an argument about why would someone even want to transition to BTC. Why would people want to change the already established status quo, and what are the actual benefits of doing so. Like we understand that its a revolutionary tech and all that. But he asked me why would someone actually want to give up the convenience of the already established status quo and dive into a volatile currency like bitcoin, the value of which can just suddenly drop one day if there is not demand at all.

His argument was that if banks disappear, there's still some guarantee that we somehow get some of our money back, as its supported by the government. But demand for bitcoin just disappear one day and the value would vanish with it too. He says that just based on tech we cannot really move over, because trust is more important and fiat has earned the trust of the world as of now. I've brought up convenience and decentralization, to which he gave the counterexample of UPI (a thing that's widely used in India) and come to think about it, its actually extremely convenient. No transaction fees, just scan a QR code and pay. No need to carry any cash on you, and its almost universal. UPI wiki Its available everywhere, on roadside stalls, anywhere. Want a plate of momo? Scan and pay. Pizza? Done. Shoes? Done. You can pay for nearly anything by just scanning a code and its instant. Why would someone want to leave that convenience and want to move over? Is the promise of a better technology enough for this to happen? I would like solid arguments.