There is a reason we invented paper money on top of gold in the middle ages; economies needed credit then, we need it now. Having money thats created and destroyed based on debt is actually a good idea.
Yet you are surrounded by ample evidence in the current era to the contrary. The debt-based monetary system has led to the obviously unsustainable position that all economic output, global GDP is now being consumed up by interest payments on outstanding debt, it is baked in to the mathematics of compounding interest. Probably not worth following this discussion much further if you are going to deny facts.
Paper debt money and other promises-of-payment money really, truly are competitive ... as long as it operates as a monopoly is what you are really saying isn't it? E.g digital money backed by gold (crypto-gold) or commodity baskets and etc hasn't even been allowed to compete, yet. Raising obfuscations like horses and carriage technological analogies is conveniently ignoring legal tender laws and other market-distorting regulations that outlawed competing monetary technologies and innovations since the late 1800's.
Bitcoin is far in advance of any monetary product on the market today technologically, as a requirement for it to operate in such a highly anti-competitive environment, and that is why it is kicking asses, taking names and enabling digital black markets. The stupid, lazy, greedy people involved in monetary technologies, central bankers and their foot soldiers in mega banks, financial institutions and economic academia, could never come up with something as sophisticated as bitcoin in a 1000 years, yet cryptographers hacked it together in a couple of years as a side project.
Diss it as much as you like from haughty economic academic standpoints. Fact is we made it work and it is a reality, all you seem to have are theories of why it shouldn't work.