“Most important part” is subjective here. 

With a handle like mine, the most important part is its provable scarcity. 

For the person in Argentina and Venezuela, its freedom from insane inflation rates.

For the ex-NSA agent in Russia, it’s censorship resistant to being financially destroyed and cut off from transacting with others. 

For the father of three whose wife is cheating on him, the father no longer has to give up half of his assets anymore when they divorce.

For the energy companies, Bitcoin means that there’s no such thing as “stranded” energy. 

It’s all subjective, but what isn’t subjective is that it is speech. 

 I agree with your valuation but we aren't interacting with the market by hodling. We are just storing economic value for a future interaction.

The market equilibrium is exactly the problem. If there was more use of Bitcoin as a currency then you solve the corruption that can happen to the market by small #s of participants trading on exchanges. You also grow the network by making the underlying asset have more usability.

Spending dollars adds economic activity to that market making it more usable to merchants because of wider adoption. We have to break the pattern. 

 To be clear: When I can, I use Bitcoin to spend. Merchant adoption has little to do with store of value though and store of value will remain the most important use until we reach enough density to have a circular economy.

I've personally made a POS station for my work which enables us to accept Bitcoin over lightning for our entire menu. But the average customer here is 60 and nobody has demand for that yet. The time will come for medium of exchange but only when >30% of people value it as a store of value. 

 I agree to save as much as possible in Bitcoin. I just think losing ourselves to the idea of storing value vs building the best money is a bad mental frame to be in. If we have a dollar in our pocket then we're giving economic activity to the Beast. I think the real value is opting out of the Beast's money altogether. 

 Store of value precedes all other monetary use cases. This is not the same a greed.  

 Store of value happened long ago or you wouldn't see a market price. We need more people moving past that step to a medium of exchange much less their own personal unit of account. 

 I buy coffee with sats. Most people I trade with don't want my sats. They're not incentivized yet because the value stored has not enticed them to consider it as an option.  

 I disagree on their incentive. Their incentive isn't based on the value of the stored assets, it's based on the number of buyers willing to spend with it. If it was just based on value then you'd expect everyone to be transacting in gold more so than even dollars. This is why the hodl as most important factor hurts my heart so much because it decreases our ability to grow past store of value to build a real economic unit.