Bitcoin was poor in design. Fixed money always pools. That also makes it awful as a medium of exchange, something even the maxis have given up on. The fact that the digital gold narrative is being embraced shows how there is no technology behind it, only trust. That is fine and will likely make it a held (and high priced) asset. However, it is not "the people's money". Wall Street now has 5% of the market cap in ETFs.
Plus the network is truly garbage.
And people thought it would replace the US dollar.
So called good money always pools, as people prefer to get rid of or use bad money. This theory was one of the most interesting I learned about trying to understand Bitcoin, and all the Sound money lectuyres.
I will have to write an article about Gresham's law and the fallacy of it. Historically, that is not the case. It is also misunderstood since the currency is valued based upon the economic productivity behind it.
It also gets warped when legal tender is involved.
Yeah, it could have evolved to be something interesting and useful beyond the SoV narrative, but it was intentionally held back.
Why?
Long story but watch this, or read Hijacking Bitcoin