I have a hard time following the logic when people make a statement that Bitcoin will replace all fiat currency. In my world view, they coexist and will continue to coexist. I can see where some fiat currencies die and Bitcoin fills in the gap, but not on a global level. Your thoughts?
Yes, cryptocurrencies will coexist with fiat currencies, just like the automobile coexisted with the horse and buggy. The transition doesn't happen overnight, it takes time.
It may be faster than we think at the moment. Apart from the major savings in the cost of handling/recording/destroying/reduction in fraud ( eventually)/storing etc there are mounting political issues which suggest (eventual) monetary reform would be a good option for Politicians to deflect anger that results from food and utility inflation of 20% + in 2014 due to their irresponsible attitude in "printing" fiat. Once cryptocurrency is perfected it would be a great option to adopt it by issuing their own ( as they will claim it to be so much better for the Nation..which it is when perfected)