Speaking of gold to have not being practical, isn’t that the case we have of Bitcoin today? When people talk of using Bitcoin for financial transactions which is its original purpose, the volatile nature of it comes in. Where merchants would be required to have it swapped for a stablecoin or fiat.
Wouldn’t that be the very reason why fiat is still valued as oppose to many that would want to see it out.
Gold has a stable value but its physical property is the one that makes it impractical, specifically for bigger transactions. It is oppose to Bitcoin where bigger transactions are much worth it due to its fees still fiat transactions can be done complete free of cost. At the same time, bitcoin is toward more valuable asset hence people prefer not to spend for daily needs.
Yes mate, fiat still has a value and won't get paused out because of bitcoin because fiat is more straightforward and then it is much more supported due to no need of any device or technical knowledge.