There's a subtle error that creeps into almost all discussions of Bitcoin v dollars (or Yen or whatever.) BitCoin isn't electronic money. It's electronic cash and there's a world of difference. Crypto is much closer to gold than it is to money in that both are a medium of exchange but that's it. They are currency, but they aren't money. The dollar is also a currency, but it's also money because "The Dollar" is connected to the world via a vast and interlocking web of obligations. Mismanagement of the economy can lead to inflation, true, but the web of connections to markets, mortgages, car payments, price-stickers, FX rates, etc., combine to make it as real as concrete, steel, and land. That's what people miss when they dismiss claims about the ephemeral nature of Bitcoin by saying that fiat currencies also depend up on belief. They do, but with dollars, that belief is backed up by an incomprehensible weight of obligations that are enforeceable. A bitcoin is backed up only by faith that you can find a bigger fool to buy it.