1. Before accusing other people of logical errors, check to make sure you’re not making one of your own, such as assuming that the current market cap of something is completely backed by real value. Pets.com and Webvan had plenty of market cap right until they didn’t - and a pure fiat currency like Bitcoin has a floor of zero because the only value is the network of people who continue paying to operate it.

2. If a significant number of people were using Bitcoin to replace currency usage, as per the original manifesto, they’d leave evidence behind. You’d see retail transactions, it’d show up in financial reports, the network having problems would make the news because of the inconvenience to businesses, PayPal and western union would be reporting lower usage, etc.