I have been reading some things, and everyone is on the punch bowl about Bitcoin this and Bitcoin that. They really think that it will replace Fiat, and one analogy is horses to cars, but you got to remember horses are still around. One thing that is apparent is bitcoin transfers, are relatively easy to track, and are out in the open. Whether or not you know who owns them is the other thing. Obviously criminals like to keep there movements unknown, but what about businesses. There is definitely advantages of secrecy in taking over other companies, and a competitive advantage of keeping your costs of goods secret. For example if I get a better price on wood, and someone figured out my account they could squeeze the suppler for a better price. Also it would be to easy for a central system to track and control your spending. I doubt people would give that freedom up easily, but then again most people are sheep. Also carrying around a wallet with all your money on would be really risky of it being lost, being robbed, or it getting accidentally
broken. So those are my hot takes on why it won't happen for a while.
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What does it mean to be "on the punch bowl"?
I think BTC would be store of value, not too good for transaction at the moment. Maybe fiat will go on blockchain to try to survive