Bitcoin's broken promises.

A. Promise one: Decentralization & Control. It is promoted as peer to peer network asset, without traditional financial intermediaries like banks. But in some cases, that is no longer the case today due to the spread of bitcoin ETF. For any bitcoin ETF holders the brokerage and bank have been play a central intermidiate roles in transaction, deposit, and payment. 

B. Promise two: withouth central bank influence or control. That is also not true. It is price is influenced by the prevailing interest rate and liquidity set by the central bankers, just like any other assect class with not exception for bitcoin.

C. Inflation hedge. This is also wrong. If inflation goes high, the central bank will raise interest rate and reduce liquidiy, bitcoin price will go down. No hedge at all. 

D. Security. no no. Even the private holding Bitcoin is not immuned from government, it can be confiscated in a second. 

I has sold all my bitcoin investment earlier this year. And will not get into it many more. 

Its perceived value is build on floating sands.