Quite well stated. I am aghast at the destruction of ETH due to the switch to PoS. Were I BTC I would vow to never ever. Evar. However, BTC is not invulnerable to Larry Fink, Elon Musk, or Fidelity. It's utterly defenseless.
BTC will not survive as a useful currency transacted by pony express or ham radio, and does not own the series of pipes it flows through. There are so many vectors that can bludgeon BTC into submission I can't personally think of them all, but regulation can threaten the necessary power supply, network access, or hardware BTC does not create nor own the means of production of.
If miners are making deals to use flare gas to produce power, they're on the right track to attaining that possession of the means of production that would change that circumstance. They should be also securing a satellite network, landlines, or whatever means of providing a network to BTC they own that can ignore orders to provide their keys to access. Given the immense opportunity the Chips act represents to own a foundry, gaining independent means of production of backdoor free GPU's is probably never going to be more possible than it is now, either.
Security is BTC's value, as you have so often pointed out. Chinks in it's armor limit it's value.
Thanks!
Edit: given the climate scam that shows no signs of being ended, and the fact of the WEF infiltration of national governments across the world that clearly has facilitated utterly unreasonable and totalitarian policies being implemented globally, as the lockdowns and treating free people like unruly prisoners proves, I am confident it's just a matter of time before the WEF decides it's time to forcibly implement CBDCs, and BTC will not be decentralized enough to withstand a global policy to force acceptance of CBDCs that BTC could otherwise prevent succeeding.
Hermann Goering pointed out that no plebs want war, but the leaders of nations can force them to wage it anyway. The same thing is true about CBDCs - unless BTC owns the means of production of all it's needs, just as were plebs secure from armed gangs they could not be forced to fight for overlords.
We are very good at guessing how billionaires can manipulate Bitcoin, but the much less asked question is, "How does Bitcoin manipulate billionaires?" Everyone understands how Bitcoin can get backstabbed but not so much how Bitcoin can do the backstabbing. Even now, politicians are being bought out. Prominent figures who all unilaterally said it was a scam years ago are all starting to turn one by one. Bitcoin is a teenager. And teenagers are mostly harmless... mostly. In another ten years I think we will be having much different conversations.
I don't think you met the same teenagers I did, but I hope you and Yegor Prosvirnin are right and I am completely bonkers.