1. You can store cash but, in most developed countries, if you try to actually use a large amount of that cash you will find that no-one will accept it or you w

1. You can store cash but, in most developed countries, if you try to actually use a large amount of that cash you will find that no-one will accept it or you will get repeatedly audited. The only reason to hold large amounts of cash, in the view of banks and the govt, is tax avoidance...which is usually correct. 2. It is easier, it is safer. Way easier (again, almost no places accept cash for transactions due to AML, I know a guy who used to pay for his cars with briefcases of cash, he stopped being able to do that more than a decade ago...I am in the UK). 3. I used to agree with this point but actually shutting down a P2P network is going to be very tricky in practice. If one govt in the world decides it doesn't want to do this, it won't happen. Crypto is still a terrible customer experience for regular people: fees are unclear, you can put in the wrong address and the money is gone, etc. A lot of this can happen with bank transfers too though (and does, Citi accidentally wired someone $500m in 2020, iirc, and has been unable to get it back). I come from a traditional finance background (and studied economic history, I did my thesis on monetary policy in the 60s so I am quite familiar with the limits on purchasing gold to prop up Bretton Woods). I was initially sceptical of crypto but, imo, it is a superior technology. Not for all transactions, for example some central banks have introduced instant bank transfers, but for some. And, in some cases, it will be a superior store of value. This is already happening in the place mentioned in the OP: the reason people are taking their money out of banks is crypto, holding cash does nothing for you because inflation is nearly 200% annually, you take it out and by next month your cash is worthless, your life savings wouldn't buy a loaf of bread.