Discussing whether something "fails" goes beyond just price movements. When we look at Bitcoin and similar assets, they're deeply rooted in speculation—people trade them, sure, and capital flows through these systems. But the core question remains: are these truly functional solutions or just financial instruments?

Bitcoin deserves credit as a pioneering experiment that taught the industry invaluable lessons about blockchain, decentralization, and cryptography. The technology itself contributed significantly to Web3 development. However, crediting it as the ultimate solution would be misleading. Market dynamics have reshaped its original vision, and institutional capture has fundamentally altered its trajectory.

The takeaway? Acknowledge Bitcoin's historical role and what it unlocked for innovation, but stay realistic about its limitations as both technology and investment. The space has evolved beyond its foundational assumptions.