bitcoin will never replace fiat currency for meir fact that people like Putin, Buch,Cheiny, and all the other crooks wouldn't be able to steal from their country with out being noticed. the system the way it is now is perfect for that bitcoin would be like thowing a wrnch into their system can you hide 40 billion in bitcoin? I just wathched fronline and putin alegidly because it's hiding, embesselded around 40 billion from his country making him the welthiest man on this planet. and now he is scared to leave office because the next president or the people may not be so nice when they find out. he's got himself in a pickle and if the west backs him into a corner he's not going to talk his way out he gonna jump like a traped rat and that could be the end of the world or a few easten countries. so bitcoin needs to work in tandum with the current monetary system be itigrated into the banking world to enhanse it or augment it. it seems that there is a little battle between the two banks are afraid of it and bitcoiners stuck on this decetrilized do away with banks. unfortunatly banks are not going away they provide a service that people are a custom to and a sence of security that bitcoin can't being that it operates in cyberspace. I'm a beleiver in GMI (guaranteed minimum income for all US citizens and bitcoin is a perfect match for making that possible and easy, but we need the banks so that people can exchange bitcoin for bills quick and easily if they want (freedom of choice). GMI is not a new idea it's been around for centurys Nixon almost passed it but was sent back because the house didn't think it was enough and wanted it changed but then watergate and it died. the idea of every americn over the age of 18 getting a monthly cost to live check is great but very expensive to do and to have accountabilty for every person and payment sent. bitcoin technology as well as block chain could make all that possible, by linking a address to your SSN or other ID# mothly payments could be sent istantly and the block chain is the ledger. whith banks onboard you could have your address linked to your banks account and if so instrucked by the customer exchanged istantly to dollars. I don't think banks should become exchanges the two should be kept seperate for stability if one fails it won't breing down the other which china was saying. Banking world and the exchange world need to have a sit down and discuss possibilities on a solution to work together