It has to do with your denial to acknowledge that money units can detach from any backing by debt and essentially represent nothing, relying solely on the faith that the government will be responsible the monetary policy.   


Money doesn't require being backed by debt.  When you make a purchase from a vendor, you're not considering whether your banknotes represent any debt.  Money functions primarily as a medium of exchange, contingent upon mutual agreement on its value.  Monopoly money fails as money because it can be printed arbitrarily.  Bitcoin can function as money, even though not backed by an asset, because it is the asset.  It possesses the characteristics of money, like portability, durability, divisibility, and easy verifiability.