Personally and only my opinion, I think so. It has now become a trading commodity, but unlike Gold it has no intrinsic value, therefore while there will always be some transactions able to be done with Bitcoin it will become more confined to high value items and less relevant for general everyday use.

I don't really have any suggestions how it could be more acceptable as a money alternative as the price per coin is so high. Perhaps if something along the likes of a rights issue for company shares, where 1 bitcoin was replaced by say 100 New Bitcoin. this would do two things: firstly reduce the unit value to about $58 at todays price this makes it more affordable to the mainstream and secondly it still limits the total available coins.

I have no idea as to the practicality of this, but I would imagine as Bitcoin is "Decentralised" it would be very difficult.

Perhaps other posters could give me their thoughts?