You can see that even here on Bitcointalk many users doesn't know a shit about Bitcoin, so you can be sure that most speculators have no clue about what they have in their hands.
which makes bitcoin the failure
Not necessarily, because Bitcoin is much more than just about speculation. For those who only view it as a purely speculative instrument they deserve to lose their shirts for investing in things they don't understand.
as a currency it does matter, that can not be overstressed, its a point i've been expressing from the very beginning. if people don't understand it they'll never trust it, or use it.
KISS, no crypto will make it in any meaningful fashion as a useable currency unless its simplified alot.
tis possible tis why i always say the only good thing to come out of crypto so far is the idea.
and tba the only thing that gives bitcoin its 'price' todate is the Greater Fool Theory;
The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price. Or one may rationally have the expectation that the item can be resold to a "greater fool" later.
