You are correct. it's value is too unstable to contract, estimate, forecast or pay anyone in, it's too slow to transact and it cannot handle large liquidity exchanges without huge value penalties, so it's limited to small potatoes transactions and really no competition for money.

It is a serious threat to the debit and credit card monopolies though, and a huger still challenge to the central banksters because it endangers the lifeblood of their most treasured deregulated  "credit swap derivatives" loophole.