gheathwave

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.

Try buying something like a can of milk anywhere on planet earth with BTC and get back to me on how successful you were.

No it isn't... You can buy just about anything with any of the world reserve currencies. You can also pay taxes in the applicable jurisdiction with any government currency.

You can do neither with BTC.