BitCoin is not a currency. BitCoin is a vehicle for exchanging value. A BitCoin has no value nor does it even exist until someone deposits fiat currency or transfers it into an exchange. So BitCoin is a payment system.

The problem arises when the payment system changes into a BitCoin system based on irrational faith. BitCoin’s value is dependent on the current value of that currency plus BitCoin acts like a stock where the perceived value increases its price to irrational levels.

BitCoin is a Beanie Baby Currency. People could exchange higher values of Beanie Babies for more goods until the price of beanie babies drops to nothing where they can be used as a cloth to clean toilets.