Even today I do not see much competition between Bitcoin and real money. Each of these currencies operates in its field. This is likely to governments and international financial institutions make problems.
According to currency they are different but operating differently. Fiat is being controlled by the government and where as bitcoin is not controlled by the government. According to technology we have to adopt because many government are willing to support bitcoin technology but how far it goes we have to wait and see.
Yeah. Bitcoins was not yet controlled by the government. Because of that, we don't pay taxes from them. On the other side, when we are scammed, the government will not be responsible for the refund of your money. But I think they will regulate it soon and very soon.
Bitcoin and fiat differs as bitcoin can be easily sent online with less fees while fiat, you need to go to remittance center to send money and it will cost much.
Maybe, the contrast difference between bitcoin and real money is while real money ruled out by government
and bitcoin decentralized as you have pointed out there is no taxes and no ruler. it's feel like a freedom of economy in country.