It isn't about potential for collapse, and even if it was it is far less likely that the USD collapses tomorrow than BTC does...
USD, Euro, Yen, etc. are all far more useful as a medium of exchange than BTC. I would argue that their primary usage is just that - a medium of exchange.
Until you can buy most useful things easily with BTC it is not like fiat.
Lastly, if BTC or any other crypto was to grow to the extent that most people were willing to accept it in exchange for goods or services, I believe that governments would be incentivized to shut it down.
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It isn't about potential for collapse, and even if it was it is far less likely that the USD collapses tomorrow than BTC does...
USD, Euro, Yen, etc. are all far more useful as a medium of exchange than BTC. I would argue that their primary usage is just that - a medium of exchange.
Until you can buy most useful things easily with BTC it is not like fiat.
Lastly, if BTC or any other crypto was to grow to the extent that most people were willing to accept it in exchange for goods or services, I believe that governments would be incentivized to shut it down.
Shutdown, how? Will any individual country shutting it down mean bitcoin looses all it's value proposition? Why/how would all countries shut it down?