And why would people ditch their fiat, which has a historically low, steady inflation rate for bitcoin, which has dropped in value 50% since the start of the year with no end in site?
See, you guys need to stop and think about this shit for a moment.
What is the difference between a sure loss and a 99.9% chance of winning?
The chances of bitcoin succeeding over the long term are no where near 99%. I would say that it is 50% at best. Also if you are going to be holding fiat for long enough then you might as well invest it in something that likely will have gains that exceed inflation.
What is the long term to you and how did you calculate that its chance is 50%?
By long term, I mean decades, much longer then the current life of bitcoin. I do not have any specific calculations to say bitcoin's success is at best 50%, but I do know that there is a lot that can go wrong and prevent bitcon from succeeding, mainly regulations, but there are also other unknown risks to bitcoin.
Satachi himself even said that the number of TX in 20 years will either be a huge amount or close to none (paraphrasing).
I personally have a lot of money invested in bitcoin, and personally think it will succeed, but it is not something I am relying on to be able to live comfortably.