Federal reserve doesn't replace #bitcoin or #bonds or #gold .. it only creates a supply dynamic ( increasing or decreasing currency supply ) to create a (false ) sense of stability in prices .. against a basket of above-mentioned volatile assets ..

Stability of course has some use - people can plan their retirements - businesses can get into log term contracts ..etc etc ..

The incentive of using currency is it is Tax free ! .. still you should to keep 99 percent of your money in asset form . . #Bitcoin is of course the best because there is no acquisition cost and no minimum threshold .. 100 sats for a penny :-)