So perhaps do you guys think the reason why most countries are having some restrictions on Bitcoin is because of the effects it has on the bank that people prefer to invest there funds on Bitcoin instead of banks?.
Each time I get to read about Bitcoin replacing fiat, I laugh. Even with mass adoption I don't think it will ever get to that point where fiat will disappear from the scene for Bitcoin. Come to think of it, Bitcoin transactions can't exist where Internet facilities aren't available. Bitcoin isn't even easy to use and that's going to be huge problem for the illiterate and elderly ones. Again, and most importantly, the recurring Blockchain congestion which is now the achilles heel for Bitcoin will continue to resurface. This continues to make Bitcoin usage frustrating. With this ceaseless congestion going on, there are many transactions not confirmed for several days now. How can such a system replace fiat?