why should be a competition between bitcoin and fiat currencies ? both can be used and live together because most of the world is not ready for a complete move to a digital currency while most of the world still has no internet access in the poor countries
Poor countries are not a relevant market for Swift. Of course there will be competition between fiat currencies and Bitcoin even if it remains limited to the industrialized world. After all that's where most capital is moved around. After all it's the governments and the banks that are lobbying for the use of digital money - fiat only and centrally controlled of course. In theory, fiat and Bitcoin can be used and live together but in practice people will use the best form of money if they have a free choice. So the future looks very dim for fiat...
The SWIFT Institute is fooling itself if it does not see the looming end of the fiat era. They are quantifying a potential threat based on the current markets size, ignoring the potential for exponential growth when critical mass is achieved and the problems of the fiat system (policy-based inflation) become apparent. After all, that's good news for all Bitcoiners, because they won't try to harass us in the meantime...
ya.ya.yo!
