Bitcoin made a lot of progress on the technological front, but its economics is flawed because it limits the number of bitcoins which can be mined, and makes them progressively harder to mine as more are found. This is the same flaw behind using gold as your currency standard, and will cause the same problem - economic instability via repeated bouts of deflation. Basically, because the amount of gold (bitcoins) doesn't grow as quickly as the size of the economy, prices for things in that currency start to go down.
Vastly simplifying the economy into one currency and one product, today there are x bitcoins and you make y widgets. The price for a widget is thus proportional to x/y. Tomorrow, the number of bitcoins hasn't increased as quickly as your economic activity is increasing. There are 1.2x bitcoins, but you make 1.5 widgets. The price for a widget becomes proportional to 1.2x/1.5y = 0.8x/y. In other words, deflation - a widget is only worth 80% what it was yesterday.
Now apply the same principle to all goods and services, and the price of everything is going down (actually the price of bitcoins is going up). Once people start to understand what's happening, they stop buying things
. They want to wait until the last possible minute, until they absolutely need an item, to buy it because the longer they wait (the longer they hold onto their bitcoins), the less it will cost. This slowdown in economic activity causes a recession, which decreases the number of widgets that are made until once again their price goes up (because not enough are being made to meet demand), which starts the same process over again. Economic instability.
That's why every major economy has abandoned the gold standard for a fiat currency. Yes a fiat currency can be abused if the people in charge of it are corrupt. But used properly with the money meted out at about the rate the economy is growing, prices remain stable and so is the economy. Just look at the list of recessions in the U.S.
pre-1933 and post-1933 when the U.S. went off the gold standard. The economy has been much more stable with a fiat currency. That's what needs to happen with a cryptocurrency for the "boat to leave port." If someone can come up with a cryptocurrency which is independent of central control, yet its supply increases at roughly the same rate the economy expands, that is the boat you want to get on. It just won't be as lucrative for early adopters as bitcoin because it won't be a ponzi scheme.