it is fragile is because the interests of the miners don't align with the interests of the users.
ooopps, there goes the rabbit hole... that is what one gets with any form of government, collusion will happen no matter what... sooner or later
there is not more corrupt than wall street, so bitcoin will be stained with its sins and crimes, meaning that more of the same can be expected, regardless of the currency used.
bitcoiners will continue to rush in and eventually may cause a systemic shock as the world is petro-dollar based. Beware of any boom. Value cannot be stretched indefinitely. Unless the goal is to crash the world economy, that doesn't make sense... or wait...
In Bitcoin there is no cost to miners for attempts at collusion. In fact it's not collusion resistant at all as there is no way to remove or punish miners. Miners in a way are the aliens that govern the protocol.
What would stop Wall Street from buying Monarch Mining Inc?
where there is money there is power... 5000 years of history proves this. Asserting otherwise seems to indicate a lack of monetary history. There is nothing new under the sun. Stephan Molyneux had an excellent video about this. The NSA had already a paper about cryptocurrencies in the late 1980s
It is irrational to think that the monetary powers are going to bow down