[hakesdev]

Bitcoin (like gold since the gold standard ended) is just a "check" on Fiat currencies and can act as insulation from central banks that issue too much money too quickly.

Fiats will continue to exist alongside bitcoin/cryptos, they'll just eventually have to "compete" a bit more (i.e., not be printed so readily by gov'ts) or else they'll become significantly less relevant.

[frockington1]

With $1.9 trillion freshly printed for 'covid relief' and another $4 trillion on the way in the form of 'infrastructure', fiat will likely face more competition by the end of the year