I do not think so. We may have an entirely decentralized currency that is 100% out of the reach of government, but this is a long time ahead of us.
Bitcoin has got its place. Big players like PayPal and Square among many others are already using Bitcoin as an alternative to sovereign currencies.
I cannot see Bitcoin replacing the dollar but as a serious alternative. My bullish outlook for Bitcoin is exactly because of that. If Bitcpin stands alongside the dollar and all other major currencies its valuation has a lot of room to grow.
If it takes just 5% of the dollar’s dominance, today’s buyers will be rewarded handsomely. Just imagine were Bitcoin prices will trade when they capture only 5% of the USD market.
Sven Franssen