Bitcoin is not fundamentally designed to behave as a currency...
Agreed I've been making similar points as you did throughout the archive of my posts.
This thread, and every other bitcoin discussion, seems to really be an endless debate about bitcoin's strengths/weaknesses as an investment.
No I am actually trying to fix the currency use too (but pushing for an altcoin because Bitcoin can't be heavily modified), but it is more complex than the logic you expressed. Essentially there must be investment first to drive the currency uses, but the currency uses need to survive the investment phase. Bitcoin can't remain decentralized so if it survives as a currency it will only be with government blessing.
The bigger point is missed. The fact of the matter is that bitcoin simply cannot function as a currency, and the behavior of users on the network confirms this, more and more so over time.
I haven't missed that point. It is just difficult to read all my posts. There are too many.
Tying into the original post, I suppose, is the fact that Bitcoin's a horrible, HORRIBLE long-term investment. When AES is rendered obsolete or any of the potential flaws discussed in this thread are exploited, all value in the network will be lost. Seeing as how at least 8% of all bitcoins in circulation have been stolen at least once, well....
I don't think that necessarily follows.
Part of your point is valid, but some people have gained a lot on this investment.