The danger is that Bitcoin redefined and predominantly used as a speculative commodity steadily erodes Bitcoin use and utility as a MoE. This is exactly what is happening and this puts control of the protocol increasingly into the hands of governments and institutions. Within a few years US domiciled ETFs and institutions will hold custody of most of the Bitcoin ever issued. Already it would be fair to estimate that the vast bulk of Bitcoin 'in circulation' is not- it is held in cold storage or institutional custody as a passive speculative commodity. The higher the ratio held in institutional custody the more effective (and justifiable) a ban on private custody becomes. With KYC and tax obligations already in place in most jurisdictions use of Bitcoin as a MoE is already impractical for most people. The capture and control of Bitcoin is well advanced yet most ignore this reality blinded by nominal and anticipated paper gains. Most people will apparently sell their freedom for the price of a Big Mac and a coke.