In a way. There are still a great many people that trust the security of some fiat currencies, especially the US dollar which is currently the most widely accepted token of exchange.
The volitivity of cryptocurrencies still make it difficult to use as a way to use in purchases with the exception of stable coins.
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Given the nature of fiat currencies, USD reigns supreme among them, even more so than GBP, EUR, and CHF. One day it's value will reach its intrinsic value (zero), but all others will fall first. USD will be Last Man Standing, so to speak.
Extreme volatility of cryptocurrencies is the major stumbling block for acceptance by the public. Then again, that's because they are being measured against fiat currencies. Without fiat currencies, 1 BTC equals 1 BTC, 1 DOGE equals 1 DOGE, and 1 HIVE equals 1 HIVE.
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