bitcoin was a great MoE in the silkroad days, when arguably it was more important as a MoE than SoV.
as long as bitcoin is worth >$0, it can be used as money, it does not need to be worth more to do this.
but bitcoin is rarely used as money anymore.
Discussion
well, in those days the payment use case was more viable due to the relatively low transaction demand thus the expensive use case, payment, was viable
this is now becoming unviable and shitcoinery is making it more unviable, but we have LN and ecash to help shift payments off chain without weakening the security of the base layer
