I agree that Bitcoin does not have the ability to replace the day-to-day currencies that most of us use for food and shelter. I think the general currency or c

I agree that Bitcoin does not have the ability to replace the day-to-day currencies that most of us use for food and shelter. I think the general currency or commodity aspects are of less importance than the public ledger. It's a kind of currency that's main use is in being able to write to a public data store. The most basic data that is stored is value transactions but anything could be stored. You should really think about it in terms of the kinds of incentives that drive our information economy. Take a look at Twitter. It operates as a sort of public broadcast medium yet the way that it stores and retrieves leads to vast information asymmetries. Information asymmetries lead to economic asymmetries. Such infrastructure is very costly to operate and leads to perverse incentives to monetize. The information economic model is flawed. Bitcoin was developed from the ground up with a functional information economic model, regardless of the political expectations of the developers.