Bitcoin doesn't produce anything of use to most people. I can already transfer my money from my bank to a merchant with quite low fees.

Even in Africa, the possibility of phone-based money allows people to do this.

Bitcoin's risks don't balance its benefits for most users of currency and basically, it's a currency or a "technology", it's simply a unique commodity akin to art or Tulips. I mean, if the bubble was tulips today, I could sell them as "unique biotechnological value-preservation technologies". But that wouldn't change the well known financial/psychological/social dynamics involved.