Debt is the liability evidenced with loan contracts and accounting books in the banking system.
Exactly, it's a liability. The asset which is promised to be paid is nothing but fiat currency. Fiat currency is nothing more than "numbers" whose power is forcefully indicated by the government. When I own $100, I only own the papers that say so.
You fail, miserably, to understand that the same happens with Bitcoin, but there's no authority that enforces its usage.
The level of your ignorance is stunning. I just proved to you the existence of debt. I proved that the debt is an existing thing and that the numbers that quantity that thing are therefore genuine.
And your response is: "bitcoin the same". Hahaha. In a rational discussion, what you are supposed to do, is to show a thing called bitcoin. Only in that way you can prove that the numbers attached to the addresses are genuine. You are not supposed to make nonsensical claims of equivalence between and an existing thing and a thing whose existence you must demonstrate.
So, can you demonstrate the existence of bitcoin. Can you show where's that revolutionary digital commodity? No, you can't. You already demonstrated that you can't. All you can do is talk nonsense or play semantics.