> Bitcoin transactions are irreversible

Surely the reversibility of transactions by a trusted, appointed authority is a feature, not a bug. It's an important safeguard against fraud, money laundering, etc. I've never heard of it being abused, while cryptocurrencies are (so far) a paradise for fraudsters and launderers.

Where I live we had large scale state capture for years. A pivotal moment in clipping the kingpins' wings was when all of the South African banks simultaneously cut off their banking in 2016. That was a good day, now we only have medium scale state capture.