I get the idea that if you want to buy a house, if you have a bitcoin or few kicking around, it could act as collateral? Yet we know how volatile it is. Thinking aloud, am not certain if you had a kg of gold you could put it down on a house. The problem is the haircut. This is the rub. Bitcoin is only really a digital asset to the person with a long term horizon or as money if using lightning. Meaning I agree with your cynicism and privacy concerns. Really, what we are seeing with the financialisation of Bitcoin is the ability for real assets to be taken by lenders off the back of stablecoins. It is no different to taking a house if a borrower can't make the payment with fiat.