it's a timeframe difference.monetization is never a straight line. gold took millennia and btc has had only 15 yrs. what looks like "failing in practice" is just a brutal supply handover. ETFs & DATs finally unlocked the liquidity for early 100x whales to transfer their bags to macro players. the transition from theory to practice requires this exact friction. volatility isn't the theory failing but the toll paid for global price discovery.
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