"Does the price prove that bitcoin has not failed?"
Does the price of a painting determine it is a good painting? Afaik not.
Does the price of a painting determine it is a good painting? Afaik not.
Just because some people want something, doesn't make it a good currency. To stay in the same metaphor, I'd like to own the Nightwatch of rembrandt, just as many others do, still doesn't make it a currency or even gives it properties of 'currency'.
I agree that those other properties are important too.