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It is not supposed to be anything. If you understand why it's useful more in the future than it is today, you can treat it as an investment. If you see how it helps sending EUR to USD without paying 30 EUR conversion fees, you can use it as a payment channel (bitcoin-central.net - BTC - coinbase.com). Or use blockchain to register your bets, contracts or play in a provably fair casino. If it's not yet very good as a currency, all that matters is what it is good at already.

http://blog.oleganza.com/post/43384713336/philosophy-of-bitc...

"It is not supposed to be anything."

It's supposed to be a currency, arguments to the contrary are hand waving. Maybe Bitcoin's primary role in history will be as a placebo treatment for mild cases of paranoia. That certainly wasn't the intention though.

I think it's all about the throughput. How much money can I put in, move, then successfully take out. The market cap is bigger than it ever has been.

One has to wonder if this is a statement of bitcoin's instability, or a symptom of instability in the USD.