Virtual currencies' (including Bitcoin) are a way to transfer value, but there is no established mechanism or legal framework in place to protect users.
Only because most people havent adopted the usage of it for our normal daily lives. Adoption of it could develop it in an incredible way that caters to the security and protection that is needed when transacting online. The reason is just stated by you, cause it's a fringe phenomenon.
Virtual currencies could lead to financial services for individuals and corporations that wouldn't be possible otherwise. Bitcoin itself could become the most prominent example of just such a new kind of "money"
It is already a prominent example. It's only limiting fsctor right now is that it's a "fringe phenomenon". If the world started developing towards the global adoption of Virtual currencies, a lot of natural resources can be actually saved plus to that the qol changes it could bring to most people.