2) Cui bono: Why a throttled BTC suits the status quo - Non…

2) Cui bono: Why a throttled BTC suits the status quo
- Non-threatening to payment rails: If BTC can’t carry global retail commerce, card networks, banks, and CBDCs remain dominant.
- Ideal for Wall Street: Scarce, volatile, and ETF-packaged—perfect for fees, trading spreads, and AUM growth without disrupting banking.
- Regulators prefer it this way: Easier to surveil/tax when most usage is custodial or ETF-based; less systemic risk than a true peer-to-peer cash system.
- Developer/VC alignment: Business models around off-chain services and financialization benefit from base-layer scarcity.