It takes 10 - 15 minutes to verify a transaction. Therefore its velocity is too low to be currency.
It is too volatile to be a reliable store of wealth. ie. Gold, Silver, Diamonds, Collectibles.
Therefore it has to be a speculative investment, like land at the Gold Coast on one of its 7 year boom, and bust cycles.
How does one assess Bitcoin's value? Is it a multiple, or fraction, of something tangible? ie. The square of the price of gold, or Palladium cubed.
Just a philosophical question, re investing. One I ask myself about any investment I make. Any investment which does not earn income is high-risk. ie. Vacant land, companies which don't pay dividends, etc. (according to the banks loan criteria)
Not trying to have a dig at anyone - really, truly. Just interested in your answers.
