Not everybody who buys Bitcoin is a speculator. It is invaluable as a medium of exchange for drug salesmen, arms merchants and tax avoiders among others. It is not that difficult to exchange it for so called hard currency.
By the way, the USD has not been a "hard currency" since 1971, when Nixon ended the policy of foreign governments being able to exchange dollars for gold. One could say that the US went off the Gold Standard for American citizens in a sense with Roosevelt's 1933 Executive Order. One could theoretically go to a bank and ask for gold for one's USD, but Roosevelt made it illegal with severe penalties for an individual to possess much gold.
Unlike the USA which prints money without limit, the total number of bitcoins is limited, so which currency is the less legitimate?
By the way, the USD has not been a "hard currency" since 1971, when Nixon ended the policy of foreign governments being able to exchange dollars for gold. One could say that the US went off the Gold Standard for American citizens in a sense with Roosevelt's 1933 Executive Order. One could theoretically go to a bank and ask for gold for one's USD, but Roosevelt made it illegal with severe penalties for an individual to possess much gold.
Unlike the USA which prints money without limit, the total number of bitcoins is limited, so which currency is the less legitimate?