The reasoning behind my thinking that Bitcoin isn't real money is :
1, You can't goto your local petrol station or McDonald's to buy either cigarettes or burgers.
2. Do I really want to wait from 15 mins - 2 hours to confirm a small purchase at an establishment.
3. Sooner or later someone will crack private keys or find a way to control wallets and all Bitcoin will turn to dust.
4. How would you calculate the price of an item if Bitcoins price is so fickle
My question perhaps should've been rephrased as 'real value'. There are plenty of things that you can't spend down your local gas station that still has real value that people strive for. That gold stuff for starters.