Not sure how you can use an asset whose price is fluctuating so wildly (and is correlated/anti-correlated to indicators and trends having little to do with your local government) as an effective hedge against incompetent/corrupt government.
I can certainly see its value for overcoming transaction barriers, whether they exist due to incompetence/corruption/backwardness of the financial system involved, or due to rule of law and anti-fraud legislation.
When it comes to storing wealth, it seems to me that it's either speculative or illicit, and not much else. Illicit users find it attractive because its anonymity and "transaction smoothness" benefits outweigh the potential losses, much like losing 30% when laundering money is just cost of doing business.
I can certainly see its value for overcoming transaction barriers, whether they exist due to incompetence/corruption/backwardness of the financial system involved, or due to rule of law and anti-fraud legislation.
When it comes to storing wealth, it seems to me that it's either speculative or illicit, and not much else. Illicit users find it attractive because its anonymity and "transaction smoothness" benefits outweigh the potential losses, much like losing 30% when laundering money is just cost of doing business.