Getting off-topic, but don't you think it's interesting how parallel the main problem of modern "democracies" is? The quinquennial election game is purely about engagement, over all other metrics.
To come back to Bitcoin, I certainly agree that it is naive, but I don't see it as a failure.
It's too simplistic to be a replacement for fiat currencies or be the new world currency™, yes. But it had to be simple. Before even thinking about macroeconomics or social impact, it had to prove it could function at all as a trustless medium of exchange. It did so very well for a long time, now scaling the model to the world is another problem.
To come back to Bitcoin, I certainly agree that it is naive, but I don't see it as a failure.
It's too simplistic to be a replacement for fiat currencies or be the new world currency™, yes. But it had to be simple. Before even thinking about macroeconomics or social impact, it had to prove it could function at all as a trustless medium of exchange. It did so very well for a long time, now scaling the model to the world is another problem.