* - Its usage as a speculative commodity.
- Its usage as a hedge against hyperinflation.*
FYI - those are both features that gold currently possesses.
Yes, but to secure the gold requires physical security. To secure bitcoins or other cryptocurrency requires digital security. It requires different types of knowledge, but in theory, digital security is highly efficient and I'd argue orders of magnitude just plain better.
The Winklevoss twins would like to speak to you about that then. Care to explain to them what they're doing wrong?
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&...
- Its usage in black markets, like drugs and weapons.
- Its usage as a speculative commodity.
- Its usage as a hedge against hyperinflation.
Those are current uses - and any one of them could grow much bigger. Conceivably, a government may end up creating a new black market traded in bitcoin, which might then propel it to mainstream adoption.
Footnotes: Drugs are bad; don't do drugs. Guns kill people. Don't sell your house for Bitcoins. Etc.