I enjoyed the article written by @uwelang available here:
@uwelang/is-mica-the-future-or-the-end-of-the-original-vision
The design of Bitcoin is slow redundant and inefficient. Sorry, a server farm talking to a single oracle database is going to be far more efficient at keeping transactions than Bitcoin. You have to think about what happened before Bitcoin to really understand the ethos of Bitcoin. There was Liberty Dollar and E-Gold. In these two instances you cannot really keep credibility unless you acknowledge what is sticking out like a sore thumb: The legal system of the USA is going to be loyal to the masters of the dollar currency first. These private groups tried to work within the legal frame work and provide a better currency alternative to the US dollar. They were arrested, and the property seized for their trouble.
Instead of a Bitcoin.com being registered in 2009, and a web wallet experience, we got something that was like a cross breeding of bittorrent with Paypal. Bitcoin operates internationally and without a legal entity to attack.
I hate the know your customer regulations. It is the first step and the last step is confiscation or taxation.
If I have one peso in my physical wallet, and one bitcoin in a virtual wallet, it is not right that a tax man decides to just take out of my savings. Not that I have any bitcoin. It is an example.