As a currency, bitcoin is an unmitigated failure, it is extremely volatile, and you will be hard fetched to to be able to spend it.
Where though bitcoin does come into its own, is as a quick and dirty means of transferring between currencies, across borders.
The banking crisis in Cyprus in 2013 created panic, the banks shut their doors for several days, the EU stole money from anyone with over 100,000 euros in their bank account, capital controls were introduced. A trial run for Greece two years later. Bitcoin offered a solution. Even the University of Nicosia jumped on the bandwagon, accepting payment of fees in bitcoin and offering a MSc in Digital Currency.
For migrant workers, sending money home is an expensive business.
Every year, migrant workers from Uganda send $700 million back home. Western Union and MoneyGram cream off 10-20% in fees. But it is not only the fees, it may necessitate half a day off work to journey to a Western Union Office, for the recipient, it could mean a day round trip to a Western Union Office.
Bitcoin offers a reliable and fast alternative. Not only that, volatile as bitcoin is, it is a better store of value than the local currency in Uganda.
Everyone has a smartphone, not everyone has a bank account.
Bitcoin, or better still faircoin, enables countries like Uganda, to completely bypass the banking system. It would only be one step, to go shopping with your smartphone, transfer money from one bitcoin or faircoin wallet to another.
Faircoin, which can be seen as BitCoin 2.0, attempts to address some of the problems associated with bitcoin.