[gwbas1c]

Take the time to read the original Bitcoin paper. It discusses various other electronic currency systems and why they weren't good enough.

The short answer, though, is that if you have a trusted 3rd party managing the monetary system, there's really no need for cyptocurrency. (Edit) Cryptocurrency solves the trust problem.

Overall, we can trust our government, thus there's no need for cryptocurrency.

[mikro2nd]

You (and I'm guessing/assuming you're an American citizen, here, forgive me if I have it wrong) might be able to trust your government. Many of us in the Shithole Countries can not. Then, too, you may be able to trust your government at the present time (or, at least, believe you're able to) but that does not account for some future time when that might not be true.

[raesene9]

You can trust the crypto currency exchanges?

Why would you trust say binance, or bitfinex ? what basis do you have for that trust?

And if you trade on a possibly more trustworthy exchange like coinbase, you're right back to trusting a government, as the US Gov could shut them down if they wanted...

[raesene9]

Indeed, that's a theoretical benefit of the cryptocurrency world over fiat. However, in practice, what seems to be happening is that the decentralized aspect is sacrificed in the rush to make money, which promotes the use of trusted third party exchanges.

In reality, all that cryptocurrencies are doing is, partially, replacing governments and banks with unregulated companies who are still quite likely to be subject to government actions.