Which is why I've paid for cannabis, domainnames, VPSs and bountysources with it?
It was really volatile until people figured out what it was but it's no worse or better than any other currency. Try owning any random currency during government unrest. It's "collapsed" to all of ~$350. Which is still worth more than your Zimbabwe dollars.
It's still easier to carry $50 of BTC on my phone than $50 cash and if I lose my phone I can always just go grab the keys and send it to another wallet before the idiot that stole my phone figures out BTC. I can also 'back up' my money to multiple places. I have a few PGP encrypted wallets sitting on VPSes should my house burn down.
Coinbase has 2 factor auth for everything. I trust it much more than my bank that still uses 1 factor auth. It also looks like it was designed after the year 2010.
Log in to coin base? 2 factor. Send money over $X amount? 2 factor. Make any account changes? 2 factor.
Personally BitCoin is a bit too 'heavy'. The full chain is going on 100GB now and in my mind it's the crypto currency equivalent of Gold. Good for long term, but a PITA to deal with daily. I think OP has a valid question and I'd like to know if there are any other ones out there.
Personally I wouldn't care if Mastercard or Visa backed a currency as long as it could do faster transactions.
For a 'tech' website Slashdot seems to have its fair share of luddites. "NEW CURRENCY, PYRAMID SCHEME". Teach the kids to code. "IT'LL NEVER WORK, EVEN THOUGH I'VE BEEN CODING SINCE I WAS 4".
Calm down and evaluate it on a technical basis and it's not that bad, the 'easy' money is long gone but I never intended to get rich on BTC. It's just another currency like carrying around Euro or Pesos, except this one I can backup on a piece of paper, to a flash drive, or elsewhere.
There are also a lot of newer readers here. Reddit is bleeding users that want real discussion. Twitter is imploding and a cesspool. Even with everything slashdot has been through it's discussions on some topics are still better than anywhere else I've found on the web, StackExchange included.
If you're really convinced that the whole thing is a scam put up some numbers and reasoning other than just dismissing it as a pyramid scheme.