[stult]

>Money is expatriated via Bitcoin from the PRC to, say, Vancouver. The point is that with a currency, people would be comfortable leaving it as Canadian dollars or US dollars.

No one is OK leaving their money in hard currency. That's why we invest it, or put it in interest bearing accounts. Leaving it under your mattress leads to losses to inflation. In that sense, currency is very much like a gallon of milk or a concert ticket, though it loses its value much more slowly in a healthy economy.

With BTC, we actually have the opposite problem, deflation. It is increasing in value every day, whereas with a normal fiat currency it is more efficient to have a low, stable rate of inflation (where the individual unit of currency loses its value over time).

So I don't disagree with you completely. You're right that BTC should be more like a concert ticket than it is. The important question is why it isn't.