Even if we ignore the thousands of merchants who accept Bitcoin in exchange for goods and services (including everything from small web hosting companies all the way up to big companies like Overtock and Microsoft), with services like Silk Road being considered by so many people to be the biggest use of bitcoin (right or wrong, I've noticed that's what a lot of people think) it's hard to conclude that the "only novel use" is for child molesters and sex offenders. Even if you believe the FUD from those who tell us Bitcoin is only used for drugs, I'd think that's also a novel use and I'm sure the use of bitcoin to facilitate the victimless crime of illicit drug use far outpaces the use of bitcoin to victimize children. With so many legitimate merchants accepting bitcoin it's not unreasonable to think that maybe, just maybe, legitimate use of bitcoin might outpace both. That would explain why the price skyrocketed when Silk Road was busted and everyone was predicting doom.