It's invaluable if you are involved in grey/black market trade. I was briefly involved in a legal-yet-taboo industry years ago, and being able to instantly receive private payments from people on the other side of the world without permission from anyone (indeed, while payment processors were limiting and closing my accounts) was phenomenal. It made sense then.

In fact I became a bit of a Bitcoin evangelist in my circles, especially as it aligned with my then-libertarian worldview. (However, the questionable leadership of the core Bitcoin fork has mostly eroded that enthusiasm over time.)

Now, as a regular taxpayer, Bitcoin makes no sense to me either. And I say that as a fortunate person with a significant stake, and a retirement fund increasingly grateful to all the dumb money being poured into it.

Its popularity and exchange rate is not a function of its utility, but rather an indication of a disillusioned and frustrated middle class looking anywhere for financial relief. Cryptocurrency is lottery tickets for people who consider themselves too clever to buy lottery tickets. (Especially all of the new, more volatile cryptocurrencies popping up each day.) Governments would be well-advised not to deprive their taxpayers of this distracting fantasy.

You'll know when you need it. Until then, if you want to take a gamble at timing your exit better than the next guy, thanks very much.