1. Bitcoin was created to be a [cashlike payment method](https://bitcoin.com/bitcoin.pdf), not a store of value
2. Bitcoin allows you to [use the system trustlessly without running a full node](https://medium.com/@jonaldfyookball/why-every-bitcoin-user-should-understand-spv-security-520d1d45e0b9)
3. Bitcoin was [captured circa 2014](https://www.reddit.com/r/btc/comments/7lio87/debunking_blockstream_is_3_or_4_developers_out_of/) by a pair of for-profit companies (Blockstream and Chaincode)
4. Bitcoin depends on [social media manipulation](https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43) and [market manipulation](https://www.bloomberg.com/news/articles/2021-01-14/research-affiliates-quant-warns-of-bitcoin-market-manipulation) for its #1 market cap position
5. Since [the Lightning Network is not capable of scaling Bitcoin’s user base](https://www.researchgate.net/publication/349846413_Performance-Based_Analysis_of_Blockchain_Scalability_Metric), Bitcoin can never be used natively by more than a few million people. All others will depend on custodians.
6. As a result of the reengineering of BTC from payment system to store of value, Bitcoin has been turned into [the slowest, most expensive, least useful crypto](http://cryptofees.net/) in the entire crypto market
7. BTC has [intentionally and irreversibly painted itself into an inescapable strategy](https://www.reddit.com/r/btc/comments/ki8zay/why_cant_btc_just_increase_block_size/) of “low volume / high fees” since it is practically impossible to increase the base layer capacity in a meaningful way
**Conclusion:** When the market finally demands utility and / or the scams upholding Bitcoin are fully exposed to the public, there will be a market reckoning the likes of which will probably set the entire crypto market back by a decade