Bitcoin has absolutely no utility as a currency. Look at the current mempool [0] to see why.
People then switch to arguing that it's a great store of value. Given its volatility this makes no sense.
People then switch to arguing that it's a great store of value. Given its volatility this makes no sense.
Cryptocurrencies in general have a lot of utility and solve real problems.
There's no reason that a crypto-exchange cannot be as secure as a bank (or more), and that governments cannot insure crypto deposits up to some value. Those are purely problems for regulators/governments, which have been relatively slow to adapt legislation.
The problems you highlight are real, and can be good reasons to favour traditional currencies, but they're also easy problems to solve - the thinking has already been done once for traditional currencies and the solutions for crypto are mostly identical.
I suppose it could be even worse though, it could be the upcoming UB fork.