Bravo.

I agree with you 100%. I believe it only delays the Bitcoin revolution and adds 'confusion' to the space... having unregistered securities alongside Bitcoin. All the NFTs, tokens, and crypto schemes harm the 'sound money' proof-of-work revolution... and confuse people.

Having said that I believe things are starting to turn the corner. The Eth/Btc ratio is the lowest its been in years, and it seems apparent that Wallstreet actually knows the difference between 'this thing' and 'everything else'. Fidelity has some presentations/write-ups about it.

On the bright side, you get to stack Btc at cheaper than it would otherwise be... so while it's a double-edged sword there is Definitely a good side ;)