I watched an Elon Musk interview, where, he didn't see crypto as taking over the global economies (digital fiat), but as replacement for fiat cash. To me he was talking about physical cash. I regard him as a bit of a prophet; he's definitely more right than wrong.
I've been thinking about how this is all going to go down.
The world's governments and banks are going to do our demand generation work for us. Not that they have a choice:
In order for countries to continue their existances, they are choosing to 'default' on their debt, not by the typical means of defaulting, with no payment, but by restructuring, with lower to negative interest rates, while creating newer, cheaper, debt to replace the old, more expensive, debt. This declining rates environment is going to force them to ban cash. Make cash completely illegal if possible, but in most areas, have a maximum amount allowable ($10,000 AUD apparently). Cash, if it exists, will hold it's value more than the money in your bank account, because your bank account has a near-zero or negative interest rate. Not to mention fees.
People, that can't hoard cash, will hoard crypto (the original idea of Bitcoin still hasn't been surpassed, BCH right now). It's gone global, in terms of development, infrastructure, and marketplace. It has a history as a viable (but highly volatile) asset for over a decade. We'll see a feedback loop. Investment and usage causes demand which causes more investment and usage. This will decrease volatility over time.
What's your opinion?