Bitcoin doesn't have to compete against fiat currency because it addresses a different market - one that wants fast international money movement, minimal regula

Bitcoin doesn't have to compete against fiat currency because it addresses a different market - one that wants fast international money movement, minimal regulation, privacy, low cost, and minimal institutional involvement. Bitcoin isn't going to destroy fiat currency, it's going to complement it. And I find it unlikely that anyone would hold any cryptocurrency other than bitcoin, since it will be difficult to create the perception of value once a currency has been established.