This just feels like moving the goalposts, though. Bitcoin has been pushed as this revolutionary thing that's going to fundamentally change currency and payments for everyday people. It hasn't. It likely won't. Maybe some other blockchain-based currency will at some point, but I'm skeptical of that claim.
Beyond that, Bitcoin as a simple store of value is an incredibly risky proposition. Someone upthread posted a link to an article claiming that Bitcoin has been the best performing asset over the last 10 years, but that ignores the gut-wrenching volatility it's gone through.
And even if you stretch to suggest that Bitcoin has been a good investment, a good investment vehicle is generally not a great currency. If I had a $100 bill that, a week later, was worth $50, I'd be pissed. If another week later it was worth $200, I'd be pleased, but would feel very uncomfortable thinking I can rely on that "currency" to continue to pay my bills over the long term.
I'm not saying Bitcoin has failed or that it's useless in general, but as a generic currency replacement I'd say it's pretty weak and unreliable, mainly only suitable for use by people at the margins, people who often can't bear the risk that Bitcoin foists upon them.
Not arguing any of that. Bitcoin is not very useful as a currency. But I trust bitcoin as a concept more than I trust USD, which is currently being devalued/inflated in favor of the stock market, solely for the gain of people who are more well off than most. I'm not a doomsday prophet nor an economist but the future of the world economy is not looking great.
Bitcoin was created as something that governments/banks/corporations couldn't control or manipulate and that's something that's worth a lot in itself, I think.
And as I mentioned Monero is quite convenient for shopping on the dark web, without government intervention.
If you trust your government, banks, politicians, and agree with all the laws and taxes, then yeah, you might truthfully state that cryptocurrencies are useless. But some believe and argue that governments shouldn't have that kind of control and people should have a higher degree of freedom and privacy.
Beyond that, Bitcoin as a simple store of value is an incredibly risky proposition. Someone upthread posted a link to an article claiming that Bitcoin has been the best performing asset over the last 10 years, but that ignores the gut-wrenching volatility it's gone through.
And even if you stretch to suggest that Bitcoin has been a good investment, a good investment vehicle is generally not a great currency. If I had a $100 bill that, a week later, was worth $50, I'd be pissed. If another week later it was worth $200, I'd be pleased, but would feel very uncomfortable thinking I can rely on that "currency" to continue to pay my bills over the long term.
I'm not saying Bitcoin has failed or that it's useless in general, but as a generic currency replacement I'd say it's pretty weak and unreliable, mainly only suitable for use by people at the margins, people who often can't bear the risk that Bitcoin foists upon them.