A good currency has a stable value, and is fungible. Bitcoin is neither:
The dramatic surge in Bitcoin's value is awful for real commerce. In contrast, a dollar or euro's value changes very little on a day to day or year to year basis. (Inflation is about 4% a year.) You know what a dollar is worth without needing to follow currency markets.
I can exchange a dollar with little overhead. (Hard currency, Visa, Amex, or check.) The time it takes for Bitcoin to settle, and the fees, means that I can not conduct any real commerce with it.
Bitcoin is an experiment. The limited supply made it useful to demonstrate how a cryptocurrency may work; but that ultimately makes it a poor replacement for real currency. The best thing to do is to learn from it and re-apply blockchain elsewhere.
The dramatic surge in Bitcoin's value is awful for real commerce. In contrast, a dollar or euro's value changes very little on a day to day or year to year basis. (Inflation is about 4% a year.) You know what a dollar is worth without needing to follow currency markets.
I can exchange a dollar with little overhead. (Hard currency, Visa, Amex, or check.) The time it takes for Bitcoin to settle, and the fees, means that I can not conduct any real commerce with it.
Bitcoin is an experiment. The limited supply made it useful to demonstrate how a cryptocurrency may work; but that ultimately makes it a poor replacement for real currency. The best thing to do is to learn from it and re-apply blockchain elsewhere.