All valid points above. I agree with the losing money thing, inflation definitely concerns me. And privacy concerns are there - that's true. But actually using the payment systems that are in current effect (specifically UPI), I do have a hard time seeing why anyone would want to switch over. Yes it isn't global. But I would assume that the average consumer doesn't really do that many global transactions per day, its mostly buying stuff from small stores, supermarkets, transferring money to family/friends etc. UPI so far has been great for that. Yes it's controlled by the government and yes a collapse is frightening.
But what percentage of the world's population will actually care about the tech underneath it all, when all they want is convenience. I'm fascinated by the tech, don't get me wrong. But discussing it with another tech enthusiast made me actually question if large scale adoption will happen at all, just because of the convenience factor. Yep there is always a tradeoff between convenience and privacy. What is convenient isn't private. But where is the balance?
As for not trusting fiat because of inflation and government motives - that's fair. But what percentage of the population actually has that fear? In my experience quite little when I come to really think of it.
What about the volatility thing though? How would early adopters deal with that and fluctuating prices? Because currently things that are available to be bought for bitcoin, aren't really prices in bitcoin per say. They are priced in terms of what the owner expects in fiat for that item. If the value of bitcoin against that particular fiat plummets, the price in bitcoins for the item will increase. These swings are pretty common. Thinking about it, I thought of a plausible argument - that bitcoin is still in its early adoption state. It hasn't been fully realized as a medium of exchange yet. When it is, things will actually be priced in terms of just what they expect for bitcoin, as then consumers will have trust that bitcoin is a medium of store of value and a medium of exchange in and of itself.