Everyone hoping to live on the Bitcoin standard doesn't remember how the gold standard turned out: custodians, fractional reserve, and eventually dissolution.
Our only hope at sound money is decentralized payments. Digital cash or GTFO ⚡️💵
Discussion
That's why Monero as digital cash is superior to Bitcoin as digital gold.
#Monero already reached full fractional reserve (1:10) on most centralized "exchanges" with maybe the exception of Kraken.
That's good and bad news at the same time as the effect of going "fully fractional reserve" without repercussions (e.g. bankruns/insolvency) will have a limited impact on price. Also if more people take self-custody and use Monero as digital cash it will drive price and insolvencies of those "exchanges".
Bitcoin is similar to gold, but better by 4 criteria:
1. Can be used for remote payments without intermediaries
2. No mining possible beyond 21M coins
3. Cannot be seized from smart people
4. Bitcoin itself is not intuitively attractive for primitive people. Is not shiny, is not satisfying to look at, is inpractical to exibit to other people. Therefore, does not unnecessarily detract attention from its real purpose - money, i.e. volume of society's debt to the bitcoin holder for the services he already served to the society.
Sure, no system, no process, and no decentralized money will prevent stupid people from submitting themselves and their money to another type of stupid people (tyrones). Stupid people make stupid decisions. Always.
But! bitcoin was created by smart people, and therefore stands less in a way for smart people securing the power from stupid tyrons, and ruling the stupid people righteously and helping them to get smarter.
Word "investment" is part of the proof of stake world. Get in / out means the same thing - investment. Proof-of-stake is the world of stupid, both, tyrones and their slaves. When smb takes his time away from eating bugs and warms, and spends it to sharpen a knife and hunt, it is not an investment. They called it investment of time and energy for the sake of confusion, but it actually is work performed to produce a product - meat. On the other hand when smb buys equity, crypto (with aim to sell it later), engages in usury (loan with interest) and any kind of derivatives, that is called "investment", i.e. an act of the stupid in the proof-of-stake world.