No I don't mean exchange rate volatility; I mean the costs of using bitcoin P2P (without a third party involved and all the metadata that creates) are too high for most transactions which are small.

Bimetalism may be exactly what we need.  One currency that acts as commodity money (scarcity heavy, SoV), and one other to act as credit money (settlement of debts, MoE).  I don't think we can have our cake and eat it too with a single asset.  For two schools of monetary theory, two sets of constraints & tradeoffs seems sensible 🤷‍♂️ 

Fiat Central-Bank Monopoly Money certainly ain't the answer