Bitcoin competes with fiat, so in that sense it could be considered as something that was intended to replace fiat - yeah such replacement might not happen right away, yet you already have stated that even in your own personal journey you gravitate towards accumulating bitcoin and spending fiat, and so the longer and longer bitcoin is around, then the more and more people, institutions and governments are going to realize that they should be gravitating towards bitcoin too... so if a lot of the value is gravitating towards bitcoin, then little by little the inferior currencies are likely to receive less and less use and also to disappear.
Sure governments are going to continue to want to preserve their inferior money systems (control systems), yet they are not going to be able to stop everyone from gravitating towards bitcoin, even though they will try to stop the gravitation of value into bitcoin..and sure maybe they will have various temporary periods of success, yet their possible temporary periods of success still does not justify not gravitating value into bitcoin for anyone who knows about the value of bitcoin sooner rather than later, then the ones who know sooner will benefit more from their knowledge so long as they act to gravitate their value into bitcoin rather than into inferior monies and/or assets... which bitcoin is the apex predator of assets and/or currencies, even if a lot of people either don't understand/realize such fact and/or some people are merely just coming around to understanding/realizing such fact that bitcoin is the apex predator of assets/currencies.
But, Why hold on to something that loses value every year? And yeah, governments will definitely try to keep their systems alive, but they can’t really stop people from moving toward something better. They might slow it down for a while, sure, but they can’t kill it. The truth is, if you understand what Bitcoin really is and you act early, you’re already ahead. Most people won’t get it till it’s way more expensive. And yeah, calling Bitcoin the apex predator isn’t even an exaggeration at this point. It just keeps proving itself over time.
We still have to find balance in how we hold bitcoin and/or fiat and/or other assets/currencies, since our bill may well be denominated in dollars and/or fiat, so we likely need to keep some fiat on-hand to pay our bills, and most people earn their wages in fiat, not in bitcoin.
Even guys who earn wages in bitcoin, they will tend to have their bitcoin amounts denominated in fiat.
Yeah true, you actually saying the truth, there has to be a balance... Especially when bills, rent, and everyday life still run on fiat. Even for those earning in BTC, they often still think in dollars anyway, like, this much BTC equals rent, food, etc.. So yeah, fiat not going anywhere overnight.
But how about some people who just default to saving in fiat their whole lives without really questioning it, beyond emergency funds or short term needs, they keep stacking cash that loses value every year. I get it though… it feels like it safer bcus they have gotten to know what bitcoin holds... But once theyve actually understand Bitcoin, they kinda start seeing fiat as the risky one long term.
It’s not about dumping fiat completely, but realizing where to store value for the future and where to spend in the present...
I think trump kind of in a way help some of them, especially the pensioners, in one of his new policy..
"Trump once mentioned retirement accounts like 401(k)s should have the option to include Bitcoin giving Americans, especially retirees, more freedom over how they invest their future".....
This may actually help some understand the future in Bitcoin that fiat...
President Trump Plans to Open 401(k)s to Bitcoin