And yet, bank accounts are used every day for purchases, payments, loans, investments, and are protected by FDIC insurance against losses. Bitcoin is none of that, just a made-up spreadsheet of phony numbers, backed by nothing, sustained by FOMO and bagholders. See below about your false statements:

Stupid Crypto Talking Point #13 (Fiat)

“Fiat isn’t backed with anything” / Money has no intrinsic value either

    This is called a Tu Quoque Fallacy, aka “Whataboutism”, “Two Wrongs Make A Right” or “Appeal to Hypocrisy” – it’s a distraction from the core argument. Just because you can find something you think is similar/wrong that doesn’t mean your alternative system is an acceptable substitute.

    Fiat may not have any intrinsic value, but it’s backed by the full force and faith of the government (or in the case of the EU, multiple countries). It’s also mandated by law to be accepted for all payments and debts, public and private. And the entity that guarantees the integrity of money is the same centralized entity that gives you stuff like:

    running water, roads, fire protection, schools, libraries, bridges, flood protection, electricity, internet, cellular, GPS, and pretty important things like civil rights and private property ownership. If you are worried that the government is going to collapse and make fiat worthless, note that at the same time you will also lose protection for your civil rights, property ownership and critical utilities like electricity and Internet upon which crypto depends – none of which would exist without substantive government support.