This makes it more like a collectable (say, baseball cards) than a currency. The number is capped and some will be lost. It has value as long as people are interested in it--scarcity does not imply value.
It also has a short track record and could run into issues if miners collude, there's a DDoS attack, or someone with a lot of resources reverses transactions, hurting confidence in it.
Baseball cards are valued for being distinct. Bitcoin for being fungible (despite a traceable blockchain history).
Baseball cards are not divisible.
I know of no situation in which collectibles are viable for transaction, but Bitcoin is. (Despite limitations in transaction numbers, speed of confirmation and transaction fees.)
This makes it more like a collectable (say, baseball cards) than a currency. The number is capped and some will be lost. It has value as long as people are interested in it--scarcity does not imply value.
It also has a short track record and could run into issues if miners collude, there's a DDoS attack, or someone with a lot of resources reverses transactions, hurting confidence in it.