So I decided to create my account to ask you guys, if you think BTC true potential, of giving individuals financial independence and direct control without relying on banks or large institutions, is being undermined by speculation and the lack of real-world applications?
I don't think that speculation is affecting Bitcoin. Assets lie gold are also speculative and it has not affected its relevance. People will always want to make money from Bitcoin and we cannot stop them from speculating. Bitcoin is just a new invention. Its adoption and use as a currency in increasing gradually. You don't expect it to happen overnight.
Government policies are the main impediment Bitcoiners face. Some countries are making laws that is forcing people to use Bitcoin through middlemen. Claiming that they are fighting or preventing money laundering and terrorist financing laws like MiCA are targeting decentralized crypto platforms.