This is the vacuum argument. Bitcoin will never ever exist in a value vacuum. Nothing will ever exist in a value vacuum. There will always be other spending options, and versus Bitcoin the other options will come out on top for most people.
In fact things are going in the wrong direction for Bitcoin. It's actually becoming less of the global share of spent (as in MoE) currency as the days go by, not more. In other the tiny embers of MoE are dying.
Bitcoin is all about store of value.
You sound so convincing but what is your basis? Why will Bitcoin "never exist in a value vacume"? Why will "other options" always come out on top for other people? Sounds like you're a Monero guy just dying to tell us about it.
Because no such exchange commodity in the history of humanity has ever existed in a vacuum. There will always be multiple currencies, and things resembling currencies.
Existing Bitcoin holders are the worst offenders here. On the whole they don't spend their Bitcoin, except for a little "show off" spend here and there. Basically Bitcoiners killed Bitcoin's future as a medium of exchange by leaning too far into hodl and stack thing, and they only have themselves to blame for Bitcoin now being unable to establish itself as a medium of exchange and forever a Store of Value, treasury, etc.
Up to about 5 years ago there was a chance to steer Bitcoin in the MoE direction, that chance has gone and will never come again.
Nah.
