I think BTC will fail because the general public are not incentivised to think for themselves and are bound by the herd mentality. Bitcoin is originally intended to be a private exchange of currency between peer to peer, but Binance is now banned in Singapore because it enabled this very feature during its operations here. Some of my countrymen might believe in the narrative spun by our central bank - that peer to peer BTC exchanges might facilitate money laundering and other shady practices. This leads to Bitcoin being negatively associated with dirty money in their minds. Our fiat is fighting a losing battle against inflation but their minds are preoccupied with hustling more to get more fiat, not with Bitcoin as a viable alternative currency. We are lucky that we are not Venezuelans or Turkish people who are suffering from hyperinflation and HAVE to resort to Bitcoin.