You seem pretty biased. But to claim there is “nothing wrong” with fiat is a bit silly, don’t you think? Or is the totalitarian imposition of an arbitrary fiat currency subject to manipulation at the whims of central bankers now thought to be consistent with the goals of Free Republic?
I suppose there are still a few poor souls buying stamps and trenchantly sending out all their mail via the post office too. But for the rest of us, email has proven a better alternative. I expect the same for the battle between banks/government fiat and cryptocurrency as well.
There is indeed nothing wrong with fiat money that is properly administered. If you are a baker, you can carry with you ten loaves of bread to exchange for other goods, or you can carry with you ten pieces of paper that you can equally well exchange for other goods. Fiat money also offers divisibility (something that a rancher would appreciate) and invulnerability to passage of time and other dangers. (My money in the bank is safe even if the local branch is destroyed by a stray asteroid.)
You can argue that fiat currency that we have today is being poorly managed. That is perhaps true. Then that's what you need to focus on, not on finding a new coin that will be similarly mismanaged. You want an example? Don't need to go too far - look at the chart of BTC's own values over time. The bitness of the coin did not prevent it from becoming an instrument of speculation; that would happen just the same if Ferengi dropped onto our planet 21 million units of Latinum. (It would be even better because everyone would get their share, and there would be no cost of manufacturing of the coins, and we would be unable to make more.)
This means that "central bankers," as well as all other bankers, would quickly find a way to profit off of scarcity of the BTC. Just as one example: they can purchase all of it, for any amount of paper money - and then they abandon the paper money. Who is the winner here?
I suppose there are still a few poor souls buying stamps and trenchantly sending out all their mail via the post office too. But for the rest of us, email has proven a better alternative. I expect the same for the battle between banks/government fiat and cryptocurrency as well.
I did mention that BTC has a huge skeleton in their closet: the huge pile of BTC that was minted in the first year or two of BTC's existence, nearly with zero effort, by a few early adopters (and the inventors.) If BTC becomes the coin of planet Earth, these people will own a quarter or a third of the planet's wealth. Do you want to so richly reward them for their invention?
The problems with money that the civilization is experiencing today have little to do with the technology of money, and everything to do with the decisions of the administrators - and with passivity of the audience. BTC aficionados naively believe that they can create a technological solution of a social problem. That never worked before, but surely this will work now. Money is being attacked simply because it is the easiest and most direct path to wealth without working. Any monetary system will be attacked similarly; and all well known monetary systems were attacked in the past, by various means.
Some of the attack mechanisms are even built into the BTC. I have already mentioned the mathematical upper limit on the number of coins. As more and more people on Earth produce more and more goods, there will be more goods chasing the same Bitcoin. The value of the Bitcoin has to go up, all the time. You can now become rich by sitting on your stash. Today you cannot do that with your USD - they are deflating; this means that you need to let someone else use your USD for a while to make a small profit. This creates credit, which finances new construction, new inventions, new everything. But there will be no credit in the BTC world - and if you can convince someone to lend you a few coins, you will not be able to pay back the interest - it will be too expensive. BTC stifles credit and stops circulation of money within the economy. This is just one of the examples of what's wrong with the BTC as it is today. Note that I do not deny that digital coins may become useful in the future; but BTC as such is only a rough technology demo that is nowhere ready for public adoption.