bitcoins are both made out of thin are and in reality are more thinner than paper.
"artificial commodity" + "artificial scarcity"
Both fiat and bitcoin are artificial. Both are scarce. The difference is that bitcoin's artificial scarcity is determined by a transparent algorithm, while fiat's artificial scarcity is determined by opaque politics. I know what I prefer. Do you?
false dilemma.
it doesnt matter who and how is issuing them, unless you have a lot of them.