that's not the real problem though. Problem is that those people don't care to use it as currency (which would increase its actual value), so it has turned to a speculative game for whales.
I'm fond of calling it what it really is. A cryptocommodity. There is nothing currency about it right now, too volatile to trust on either the seller or buyer's end.
not even. if one wants to invest for the long term in a commodity, they d pick gold, for the simple reason that it won't rust. Bitcoin may fold tomorrow if a cryptographic weakness is found, its just too risky to be an investment grade commodity. But since it's not a currency either, it has become just a game for speculators, and it will remain so until the people who actually need the tech start puttting it to use en masse.