A non-state issued crypto will not replace the USD. The USD might lose value and be replaced by another state issued currency as has happened to empires in the past. Whatever replaces the USD will have to be something backed by a governing body that people have confidence in. Confidence in the long term reliability of that governing body to support value in the currency.
Non-state issued crypto has no such backing. There is nothing that could prevent the inflation of the quantity of BTC; there is only the assumption by many parties that it could not happen because whoever setup BTC said they won't. But none of those believers have any ability to stop what I just said from happening. And if it happens, there is no recourse by BTC owners. There is no accountability; because it is a commodity, not a currency.
A non-state issued crypto will not replace the USD. The USD might lose value and be replaced by another state issued currency as has happened to empires in the past. Whatever replaces the USD will have to be something backed by a governing body that people have confidence in. Confidence in the long term reliability of that governing body to support value in the currency.
Non-state issued crypto has no such backing. There is nothing that could prevent the inflation of the quantity of BTC; there is only the assumption by many parties that it could not happen because whoever setup BTC said they won't. But none of those believers have any ability to stop what I just said from happening. And if it happens, there is no recourse by BTC owners. There is no accountability; because it is a commodity, not a currency.