Dear @akdx

I must admit - very interesting choice of topic.

Cryptos will surely never replace fiat. For one simple reason: future value expectations.

Holding fiat is not smart, so people are insentivise to spend it. Value slowly diminishing (by so called inflation) is a huge reason why money is "moving".

With crypto it's reverse. People do not want to use it to pay for any goods or services. They will trade it, hold it, invest in projects etc. But most of them will see it as an investment. Perhaps risky, but an investment either way.

That's a major reason why crypto will never replace fiat in my opinion.

And you also have a good point about goverments. They already accepted that crypto will be an asset and store of value, but they will not allow it to bo a form of payment.
And mostly, goverments will still require using fiat to pay debts, pay for oil, taxes etc. And that is enough to ensure that FIAT will continue to exist.

Solid read. Upvoted already :)
Piotr