I do not think fiat will go away in my lifetime, but it will continue to be mismanaged and debased. The way people use it will change as the flaws become more obvious. Like in Argentina their fiat money is still dominant, but it devalues so fast that everyone just spends it as quickly as possible. I think the world will trend towards that type of relationship with fiat.
Discussion
I agree. I can imagine a world where the trend toward increasingly devalued fiat that alters the time preference of most of the actors in that world. I would expect change to emerge in such a world, but I can’t judge whether it would be beneficial.
It will get worse before it gets better.