I don’t see how the article can plausibly argue that Bitcoin has won. How does USA creating a reserve of coins they will never sell change anything? It’s just as if the cap of bitcoins have been adjusted, which doesn’t fundamentally change Bitcoins role.<p>Can you get a bank to issue a mortgage in Bitcoin? Can you make your employer pay you in Bitcoin? Can you pay your taxes in Bitcoin? No? Then nothing has changed. Bitcoin didn’t win in any meaningful sense. It’s just an abstract thing people hoard for the sake of hoarding. If you’re lucky you can use it as a hedge against inflation. Fairly safe in the very long term, but very risky in the short term.<p>Yes, the market cap is continuously increasing, but I don’t see how thats meaningful. Anyone can create a new coin with a huge market cap. That’s easy. The market cap doesn’t say anything about how much value is stored in the coin. The market cap becomes even less meaningful if huge quantities of bitcoins are stored in huge reserves, that can never sell a significant portion of their coins without crashing the entire bitcoin market.<p>Yeah, governments don’t fear bitcoin anymore, mostly because it has become clear that bitcoin could never do any of the things people thought it could do. The main problems now is cryptocurrencies being used for crime and scams, but I think most governments know it’s hopeless to fight that fight by banning the currencies themselves. The fight will mainly be in the form of increasing regulations around trading cryptocurrencies for real currencies, which is already happening many places.