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I have more than adequately researched the issue.
Bitcoin does not qualify as money. That is why no one is using it for daily grocery shopping.
Those seeking security in bitcoin are jumping from the frying pan into fire.
Bitcoin does not and cannot store value.
Bitcoin can be expanded indefinitely. That is already a problem. Scarcity is one of the attributes, which makes gold valuable. This attribute is completely nonexistent with bitcoin.

I am familiar with the work of John Stossel. Basically, he is a small government, free-market, libertarian. Of course, he is in a hurry to endorse any new entrepreneurial adventure, outside the clutches of government. His position fits well into his ideology. That does not mean he has the faintest clue about the potential for bitcoin to function as money.

 

it already worked as money in some countries and even to my country I can pay electric and water bills thru a 3rd party app.

BITCOIN can not EXPAND indefinitely. Its only limited to 21M Bitcoins it can't create more than 21M BTC. This cryptocurrency and like the rest will have to run on mathematical algorithm that if altered, the whole idea of immutable blockchain will be breached.

Technology of money is fraud from the beginning of its existence, the government can just declare it without value since Nixon's time. There is no gold reserve to the USD we use today. Do your search well.

 

You got me all wrong. I am not a defender of government fiat. I am out here warning people not to see bitcoin as an alternative to government fiat.

If you just want to conserve your purchasing power; then, buy gold or silver.
The best way to conserve your money and protect yourself for inflation is to invest in farms or real estate. When inflation causes prices to rise; food and rent prices rise as well.

So what, if bitcoin itself is not indefinitely expandable?
There are so many bitcoin alternatives that it doesn't really matter: ethereum, stellar, neo, zcash, cardona, litecoin, dash...
Even Facebook is considering making their own crypto-currency.

 

Bitcoin doesn't aim to eliminate fiat as well. its always going to be there as matter of fact governments today are issuing digital fiat like CNY. France and Germany are also about to release their digital fiat too using the blockchain. All these are centralize digital currencies which its just their government can issue, can control and may even modified the total supply of these currencies.

Yes there are many alternatives to BTC, they exist and also have value. It however vary when it comes their technology, decentralization and privacy matters the most for some enthusiast.

 

What value does bitcoin have? or any other cryptocurrency.
First off, it obviously has no intrinsic value. It is just figures on some computer mainframe. I understand you can make the same argument for government fiat. Government fiat has no intrinsic value. It is just some figures on almost worthless paper.
The paper of government fiat is almost, but not totally worthless. You can use it as hygiene paper. If you have sufficiently large quantities, you can even heat your house with it.

Don't get me wrong! BTC has exchange-value and it will continue to have exchange-value; for as long as people have faith in it.

Also, you have completely missed the very basics of economics.
Human beings have infinite desires but limited resources to fulfill all their desires; hence, the prices mechanism to distribute scarce resources.
Regardless of what you claim; the quantity of BTC that can be created is infinite. Even if, the quantity can only be expanded through the creation of alternative cryptocurrencies... it still boils down to infinite supply.
Even air is finite, but people don't pay for it because it is so abundant.

Obviously, you are a BTC fan. I am not going to try to persuade to stick with traditional assets. But, I am going to warn everyone else, who is on the fence, to stay away from BTC.