With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.
It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?
I can tell you that Bitcoin was never designed to be an asset of huge value or even hedge against economic shocks and turmoil. It was a platform that self-developed into such a platform, and its main calling in life is that being a digital finance platform to facilitate unmediated transactions. If I remember correctly, it was initially created as a peer-to-peer electronic money system, it should have been able to provide a decentralized alternative to traditional financial institutions, helping people deal directly without intermediaries. That is, with the maturity of bitcoin, increasingly designed as "digital gold," rather than just being used as a shortcut to exchange. It should have been due to the fact that, as I said, during the period of economic uncertainty, bitcoin was a particularly well-suited store of value due to its low trading volume and freedom. It is probably a focus on making bitcoin a store of value if the fact that the marketing machine of a digital gold legend was distracting people from the original business objectives bodes.