[frankenst1]

> For now, the cost of Bitcoin is on top of the cost of the existing system, not instead of it.

You can have a closed loop of exchanging Bitcoin for goods and services without any legacy financial system involved. Just because you prefer to exchange your Bitcoins for your local currency does not imply that the cost of maintaining your local currency should be added on top of Bitcoins own.

[analog31]

Indeed, but we don't know what those goods and services would consist of in the absence of the legacy financial system.