As long as the Gov't has authority what asset it accepts for tax payments, legal tender as issued by the central bank is in no danger. Since in industrialized n

As long as the Gov't has authority what asset it accepts for tax payments, legal tender as issued by the central bank is in no danger. Since in industrialized nations taxes make up a large part of the GNI, I cannot see XBT dethroning national currencies. The usual inflation of traditional currencies would predictably lead to a deflationary spiral in XBT until it either hits a ceiling or goes into extremely fast boom and bust cycles that kill trust. Everyone who tried to evade the debasement of his savings by 2% inflation only to witness them melting 50% in the next XBT bubble pop will be hesitant to go there again - especially if the market get so narrow that selling is a real problem.