[gnaritas]

I agree it's acting more as gold now, but there's no doubt it's intended to be a currency and as a currency it's inherently a fiat currency. However gold is a hard asset that has actual real world uses outside its monetary value; it's a fantastic metal.

Its limited supply doesn't give it value because it's but one of many crypto currencies[1] and its value is derived only from being the first mover and thus network effects and confidence. That money could easily abandon Bitcoin and flee into another crypto currency any time general confidence in it fails; for example if say LTC or PPC show more stability over time because of their differences from BTC and BTC fails to stabalize over time due to its deflationary nature.

[1] http://coinmarketcap.com/