Indeed, it takes time to bootstrap a currency. That’s why it’s absurd to expect Bitcoin to be stable when it’s less than 10% the market cap of any other significant reserve asset, and may plausibly keep increasing its dominance in the reserve asset market.
> Bitcoin has neither of those things and never will.
I disagree - I trust much more strongly that Bitcoin will not be mismanaged than the USD, because bitcoin is governed by very simple and utile rules that are practically impossible to change, whereas the USD can be and has been inflated substantially.
I don’t think your first point (the economic position of the US) is as important as you think, especially as Bitcoin comes to be the reserve asset of a larger and larger set of productive economic actors.