Activity record suggesting that BTC is set to fail while banks profit

The idea that a new form of sound money can simply be “hodled” forever, without being actively used in transactions, makes no logical sense at all. If a network is stripped of real transactional utility, it ultimately undermines its own security model. In the long run, miners must be supported by transaction fees. No meaningful on-chain usage = insufficient fee to sustain the network once block subsidies decline after each halving. Without the fees, miners flee, network security collapses.

It's saddening to see that what is keeping the system afloat is not usage, but excessive speculation. Price is propped up by the unknown expectation that it will rise again, not through technicogical value or utility, but fuelled largely by fresh liquidity through newly minted USDC and USDT. Yes, printer go brrr. But when it stops, another sharp correction crash is almost inevitable. The degree of financial engineering and leverage here operates at a shorter time scale compared to other markets making bankers ecstatic. As a result, extreme volatility is not a temporary phase. It is structural, especially after Bitcoin lost it's ability to scale.

More importantly, during this recent crash, actual on-chain transaction activity was absolutely negligible. This suggests that Epstein's (ahem) Mossad's Bitcoin is largely being traded and settled through IOUs, structured products and custodial platforms, rather than through the base layer itself. What now exists is an institutionalised, off-chain version of BTC, effectively fully assimilated into the same financial system which Satoshi sought to replace.

Today, banks are making a killing with exchange fees, leverage fees, and ETF management fees through this blue ocean market. It doesn't matter if the public loses or profit, they still make their cut, without taking any of the risks. And no bank or central bank is ever going to start agreeing to use BTC as a reserve as Saifedean Ammous ridiculously suggests. That will cut bank's shareholder value to near-zero, and it will never ever happen unless pressure stems from true public adoption and utilisation of this technology for peer-to-peer transactions.