I don't think it's irrational to disagree with your personal beliefs about monetary systems. There's evidence both for modern practices being beneficial as well

I don't think it's irrational to disagree with your personal beliefs about monetary systems. There's evidence both for modern practices being beneficial as well as detrimental so I'd reserve judgement until it plays out. Besides that, what's wrong with a private entity issuing its own scrip? It's how our current system of currency got its start with private banks issuing promissory notes which were eventually adopted by the state. You probably personally hold quite a lot of it in the form of debt or reward programs. This goes a little further in that it is redeemable for an alternate form of currency not backed by a state but that's not really an argument against it, historically people have used all kinds of alternate currencies. It really just comes down to what two individuals agree is an appropriate medium of exchange whether it's bitcoin, dollars or cigarettes.