Consider:
Gold is so bad at being trustless money in the digital era, that it was defeated by fiat, one of the lowest integrity monetary tools we’ve ever been forced to used… but which was our only option in a virtual economy.
#Bitcoin fixes this.
Discussion
🎯🎯🎯
Did you mean to use the word “bad “and “trustless” together? Banks still use gold to trade.
And what percentage of their value does it secure and how do they conduct those transactions?
Consider this. The same thing can happen to Bitcoin if it’s successfully rebranded as a digital asset instead of a cryptocurrency, that was made for payments. The whole premise of Bitcoin is that it’s an equally good SoV and MoE. Take any of those two properties out of the equation and you end up with either a less efficient PayPal token or as less useful gold.
It will not happen in the same way, the scaling/value problem of Bitcoin is inverse to the scaling/value problem of gold.
And it remaining an open permissionless network makes it such that there will never be a time in which any and all payment solutions cannot be built and tested. It is axiomatically more important that it remain open and permissionless because nobody, not any shitcoin, nor bitcoin, nor VISA, NOBODY has yet to solve the "sovereign global payments for everybody in the world" problem yet. It is critical beyond anything else that an open, trustless, robust monetary network exists in order to build solutions to that problem.
In other words:
you are right in a sense, but I do not see that as our trajectory and a bunch of people wanting to buy and hold it isn't getting in the way of anything.