Who the fuck knows? (Really, though, that's exactly the problem with treating it as currency). As I have written in the past, ideological devotees will do stupid shit, as will market speculators, but anyone playing this game is doing so based on the premise that they aren't the bottom rung in a pyramid scheme.
I wrote a long series called "Bitcoin is bullshit." Here's a link to the wrap-up post, which includes links to each individual post in the series. I'm still right.