I don’t know why either. It’s hard to say that the best investment ever is a failure because people are not spending it.

I feel like the store of value>medium of exchange theory is accurate. People have to have it to spend it. And logically, if it's going to appreciate, it wouldn't make much sense to buy it, eating the spread or transaction fees, just to immediately spend it. I feel like this whole narrative was spun up because, just like no coiners who dont understand btc's potential, bitcoiners today don't understand the natural progression that comes with the birth of a new kind of money. Literally none of us have experienced this sort of event before. Nobody knows how it's going to play out.

No one knows how this will play out. Everyone is just speculating. It’s possible that Bitcoin can save people from poverty while fiat also continues to be the primary medium of exchange. Not saying that’s what will happen or that it’s what I want. Just saying it’s possible.

it fails because the vast majority of SoV usage will end up custodial. itll just be another option in everyone's brokerage account and inaccessible to precoiners.

I don't agree with that as an inevitability. The majority of coin, at least right now, is held by individuals. Meanwhile, fiat is still crumbling before our eyes. You think every miner and node is going to go offline just because everybody isn't buying their groceries with coin? Myself and millions of others are going to keeping mining, noding, and stacking and waiting for the inevitable collapse. Also, if a company is going to accept Bitcoin as payment, they damn sure aren't going to accept it without understanding it first and the only way to understand it is to have it and get accustomed to what you can do with it. It failing at all doesn't make much sense at this point, especially at a point in history where the manipulation, extortion and war that goes on under and on behalf of a fiat standard is better understood that at any other. Saving is a use case for money. I accept Bitcoin as payment. Others will too. But this fear mongering shit is very fiat behavior and I don't take it as truth for an instant.

It doesn't fail because the network goes offline it fails because its no longer censorship resistant.

Well first it was a custody issue, now it's a censorship issue. Seems more like you're just black pilled. That's an awfully easy stance to take but that doesn't make it accurate. Ntm this is the best mechanism that has ever existed to counter that end. Have hope fren. We have an incredibly sound road out of that future. No, it isn't perfect. Nothing will ever be. Probably. It still takes us being involved. I'm willing to do that. If you are too then the fight isn't over.

wut? Bitcoin will fail if it's not used as MoE because it will primarily be with custodians and therefore not censorship resistant.

Lol. Aight.

I think medium of exchange will be custodial but savings for non retards will be self custody. I sometimes think the custodial savings like ETFs are actually better for sovereign people like us because it’ll make on chain transactions cheaper. The truth is that most people have no idea how fiat works and still use it. Most won’t ever know how bitcoin works but the people who do will be better off. This has always been the case for humanity. Majority are retarded, lazy, and careless so they get fucked over. I don’t care tbh.