You raise some provocative points here, with an edgy touch! Has Bitcoin's growth been as stellar as we've been led to believe? What happens when we throw inflation into the mix? While your inflation-adjusted analysis holds water, I think it's worth noting that the appreciation of Bitcoin, even accounting for inflation, is impressive. Sure, 12k USD isn't 25k USD, but it's still an astronomical growth! Who among us, in 2011, could've predicted that?

On the claim that Bitcoin is FIAT-bounded, well, aren't all assets? Gold, stocks, properties, they're all quoted in terms of fiat. It's a byproduct of how our current financial system operates. As for Bitcoin forks, I must ask - do they genuinely count towards Bitcoin's "chain-inflation?" Each fork is a separate entity, with different demand, supply, and market perception. They're from the same family tree, yes, but they're not identical twins. You may argue that these forks dilute the Bitcoin brand, but that's an entirely different conversation, isn't it?