Wow how this forum is an unbelievable echo-chamber fueling one big ponzi scheme. Bitcoin as a currency, give me a break. A currency where it takes days to clear payments unless you pay massive fees - fees that are hostage to whatever vagaries the miners have? And if you don't, you are left in limbo where you have no idea whether it takes minutes, hours or days to move your money? A currency which is heavily impacted by "civil wars" with rival crypto currencies? A "currency" even less stable than the former Zimbabwean dollar. Don't get me wrong - the other crypto "currencies" equally well fit the ponzi scheme.
It is abundantly clear from reading in here for quite a while that the vast majority of people speculating in here are simply pinning all their hopes and dreams on the notion that these tulip bulbs - sorry tokens - can only rise in value. Sorry to say, but some people are going to get hurt badly eventually....
You are entitled to your opinion, of course, many people still think the earth is flat beside all the evidence otherwise. You are right when you say that the higher fees are a setback on the bitcoin system, but also because you may need to learn a little more how to use, and other tokens may alleviate this burden on the near future. Just an example if you use coinbase you will pay around $11 to transfer $25 but will pay the $11 if you transfer $100,000 or more. Try this at Western Union. But no the other side you can pay as low as 96s/wt on blockchain.info what would cost around $2 or less, so if you know how to use, yes it´s a painful process, but a $200B growing market is more than a lot of stock exchanges for some countries has. Would you say that when you buy a regular stock or options you´re living on speculation? Cryptocurrencies are not different and just because NASDAQ crashed in 2008 became a fraud, did it?
The US economy collapsed because immoral people tricked ordinary citizens to take on loans which they had no hope of ever repaying - but packaging it in a way so people did not understand what was going on. They were simply lured in by the prospect of easy access to money. Same thing repeating now, only with different tools.