- Transactions are fast
- User anonymity
- No chargeback frauds which is pretty common for the credit/debit card users
- The currency is decentralized, so you don't have to worry about getting monitored by any government or private agency
- Low transaction fees

And much more. I could go on forever but other members have already described so much, thought would take a stop here 

Bitcoin is a product that can be traded for good and services. Much the same as tulips, jewels, auto, silver, gold, orange juice, pretty much anything you can consider. But, can we think of it as money?

No, we can't. Bitcoin is a denominated commodity that is electronically tradable. It is not electronic dollars. It is more similar to digital gold or digital wheat for that matter. There are 21 million of them. Each can further be divided into 100,000,000 subsections (8 decimal places). That is 2,100,000,000,000,000 bitcoins, or 2.1 quadrillion pieces.

It's because the currency is highly volatile and its value fluctuates at incredibly fast rates. if one day a BTC = $1000 and next day it drops to $800, it would surely kill the business. This is why a large portion of the business community is reluctant to accept it as a form of payment. Moreover, our financial system is not designed to work that way, it would require a large set of changes in order to gain compatibility with BTC. I think its better the way it is.

Although the higher fees will take BTC beyond the middle class, I don't think it will damage Bitcoin in any possible way as the real players will still keep using the currency. Plus many exchanges drop the rates as the amount of transactoin goes higher. in conclusion, The currency is there to stay and won't go away anytime soon.

I use wallets to store my coins - both online and offline. Online wallets are generally considered to be vulnerable to theft but still a vast majority of people is using them without any issues. As long as you don't publicize your private key, you are safe. As someone who has used both the wallets, I would suggest cold storage (offline wallets) since they are immune to any sort of cyber attack and offer more security than their online counterparts.

If you don't trust either, then I would recommend you to receive Bitcoin at your Bitcoin address and get them converted to fiat ASAP.

For now, it's not so convenient TBH. Although some stores, corporations, and businesses are starting to accept it as a form of payment, the number is still pretty low and you can't completely rely on Bitcoin for your daily transactions.

About Starbucks, there might be some waiting involved but I am not sure about this one since I have never tried to pay them through BTC.

Similar to what Unamis76 said, I will only comment on the last part since I have never taken the 52-week challenge. If I were to choose between saving in fiat vs saving in BTC, I would always go with BTC. Although the currency is highly volatile, it most often takes currency's value up rather than bringing it down. This is because the number of BTC users is on a constant rise, which ultimately results in value appreciation of the currency. on the other hand, fiat only tends to decrease in value over time. so for me, its Bitcoin over fiat any day.

Would either go extinct or fully take over the digital world. I am saying this based on two factors - as more blocks are mined, the rewards become smaller. At some point, the reward will become so low that people will most probably lose their interest in mining new coins. On the other hand, as the number of BTC users grows, the currency will appreciate in value, gaining more attention worldwide. So both scenarios are possible. Nothing can be said for sure for now.

Highly Unlikely. Although several other digital currencies are in the competition - Ethereum being the closest one - there is still a very little chance that it will be dethroned from the top spot anytime soon. The current market cap of Ethereum is $1bn USD while that of Bitcoin is over $10bn USD. The only advantage that Ethereum holds over Bitcoin is that it's capable of performing faster transactions. Where a Bitcoin blockchain performs 3 transactions per second, Ethereum blockchain can perform up to 25. Overall, Bitcoin is there to stay on top for a long long time.

Decentralization, user anonymity, and volatility.

Decentralization - No government or private agency has any control over the currency, so no risk of being monitored.
Anonymity - the users can make anonymous transaction's without any fear of being traced.
Volatility - some might disagree but I personally love this feature. Due to high volatility, Bitcoin prices tend to go higher more often than going lower. Besides, the more people use this currency, the higher its value goes, which is a big plus. Currently, one BTC = 1136.77, and the value is expected to go even higher.

Most likely 10-20 years, probably sooner, probably later. Its thoroughly up to personal preferences. People who are leanient toward Bitcoin have already started changing over their assets into Bitcoin, while many still continue using fiat currency. There is no specific time span. However, the next couple of years are certain to have a critical influence throughout the cryptocurrency.

I do it only for future. No need to particularly save it for fun since the Bitcoin investment in itself is a great fun. Due to high volatility and incredibly higher value appreciation, it's probably the easiest and wisest investment you will ever make. Moreover, the fact that Bitcoin value appreciation is a matter of days and not months or years makes it even more exciting. So, keep it for future, fun will join in automically.

- its decentralized
- since no government or private authority has control over it, no one can take away or freeze your Bitcoin assets
- doesn't exist physically
- stored in digital wallets
- can be used to make anonymous transactions
- transactions are quick and fees are extremely low

overall, it's great to use.

Awesome! Japan keeps on giving me surprises. This time, it's Bitcoin. Hopefully, they pass the bill so the tourists will have one less thing to worry about as their money will already be stored in digital wallets. I think more countries need to pass the similar bills in support of cryptocurrency.