From macro level, fiat money disappears when the trust to that currency is totally broken, for example Zimbabwe dollar
It is very easy to break that trust while difficult to maintain it: If suddenly it requires 10X more dollar to eat a hamburg, then everything's price will explode and government suddenly lose the ability to purchase or drive any project with the money they have (even banks raise the interest to 20%), then their only choice is to print more money to handle the situation, which make the situation even worse. So once that trust is broken, there is almost no way to prevent the collapse
But so far, people's trust to fiat money is still intact, this is because they don't have any knowledge about modern money creation
The zimbabwe dollar caused heavy inflation there, so printing money doesn't mean that it is an escape, it is a trap. It traps you and the more you struggle to get out of it, the more it sucks you in. And as far people's trust in fiat money goes, never thought government would benefit by having dumb citizens, atleast the people in btc community know about modern money creation.
