Bitcoin was not created to discredit fiat, it was created to add value to the monetary system so it means that Fiat is still important for day to day transactions because it is easily accepted as a legal tender. The emergence of Bitcoin has become an eye opener for many people that fiat is not reliable to keep for the long term,
Bitcoin maximum supply is capped, there is no way more Bitcoin will be coming from any angle, we don't have any bailout from anywhere and I'm not even sure if government are the people we are going to be calling for help if we need any help. Bitcoin has collapsed multiple times in the several times in the last 15 years and it's standing strong like never before and you really think Fiat system is superior or can stand where Bitcoin stand? They are not even close to each other but share some values.
So what are we not talking? Bitcoin wasn't ever created to sideline the fiats but to improve monetary transactions across borders with the potential of holding tangible values ahead inflation and also minimizes protocols of processing payments.
I doubt if the governments can even afford to adopt the decentlized system with the thought to limit the services of the traditional system. Never. Moreover the fiats isn't a waste to be in used on the regular basis at the short terms but a waste of value when holding for too long with the believe that you're saving for the future while the value of bitcoin to be compared to the stock market is where it derives it store of values which the fiat is being far left behind.
Saving has never made anybody rich in the modern time, it was back in the old that people can save and become rich. To be rich now, you'll need to invest your capital and that can be done by owning businesses that you invest your money inside or allow your money to do all the work for you by investing into others business that you get to share the profits in the future. Holding fiats is going to affect you when inflation hits. Buying Bitcoin is another form of investing your money but it doesn't get any easier because there's lots of risks with buying Bitcoin. The price of Bitcoin isn't stable hence you can't invest and be expecting to get the same value of your money in a short time. If you aren't the patient type then you can't succeed with investing in Bitcoin.
Saving in the banks shouldn't be for any other motives but for short term purposes but saving for the long term is expected to store it where it reacts to increase in values as much the economy is also growing. This will help your funds to effectively keep valuability in the long term.
That's why fiat may be good in the short term for immediate usage while bitcoin is better for the long term. This practice resolves the elements of lost and profits regarded the evolution of the economy system.
There’s no wrong if you chose putting your funds in the bank for long term, that’s actually your choice, but never expect that your funds will continue growing, instead expect the opposite. Fiat will depreciate, while bitcoin will continue to appreciate its value, so do the math wisely.
However, I don’t encourage anyone to withdraw all your funds from your savings account, at least leave some percentage of your overall money, for your daily expenses, for your leisure time, and most of all for your emergency funds, the rest put them all into bitcoin.
Okay. Let's say it's an act of ignorant to hold funds in fiats since it's discrediting that saving in the long term hadn't ever been good when look out to purchase power. It's good to admit it's not good ideal even though it's everyone's choice. Like I'll say, those are people who suffers from the reality because they acts just so unaware that their money in the bank is looking values against inflations. So therefore, it's anyone's choice but those are doing very big mistakes afterall.
However, I'm either not against them but be sure that your money in the bank can't recover value during future inflations while bitcoin is the way to solve the devaluing threats in the long term while volatility remains uncertainty not to be so perfected.