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The bit you will never find people within the crypto echo chamber bring into the explanation is that fiat currency is underpinned by police, courts of law, prisons and an army. As a result, crypto can become immediately worthless within any jurisdiction having working law and order, as a result of hostile legislation.
Allowing such currencies to thrive risks creating a class of people with a vested interest in the downfall of law and order.
Crypto only really becomes a danger to democracy once those who believe they are wealthy, upon finding out their "wealth" holds no sway against police and armies, start undermining the will of nation states. A lot of people take nation states for granted and don't realise that if you don't have one, you're basically living in Afghanistan and have to tolerate a whole lot more violent death.
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