#4 is, or has been, evading laws in China and other countries with tight currency controls. A wealthy Chinese citizen can't necessarily just transfer money to a foreign bank account. But he can purchase crypto mining hardware and electricity for local currency, then sell the resulting coins for convertible hard currency on foreign exchanges.

That's a fair point, that I forgot about.

#4 is "holding currency independent of any central bank's monetary policy."

Ironically, that's the strongest long term feature. But probably the one driving the least amount of volume (outside of hyperinflation states).

But the idea of it being a "currency" requires it to have some value outside of it being stored (IE someone wants to buy it).

If the only reason for it existing is to show how many you have, it has zero value outside the possible curiosity of "Having the largest number that happens to match this set of arbitrary mathematical restrictions"

Storing value and being freely transferrable is an intrinsic value. That establishes some worth > 0.

What external transaction use does is even out the day to day value changes and decrease volitility (transaction volume >> trading volume).

Without that, you'd see some value placed on it, but a large price moves as trading affects it. Come to think of it, that looks a lot like... hmm.

Why do you think this is true? I use crypto weekly here in Switzerland because it's comfortable, fast and has lower fees. I could even pay my taxes in some places. Then there are millions of people with no proper access to banking that highly benefit from crypto. But some people just think it's all about illegal things and trading.

You forgot outright money laundering / tax evasion