It's all about immutability and finite money supply. Huge achievements that are impossible with centralized government fiat.
Here's an articulate presentation on these qualities of Bitcoin that many argue are it's primary function, viewing it as an ideal store of value[0].
Here also is a book by George Gilder on the flaws of fiat currency vs sound money[1], but which also covers a much broader spectrum of economic issues we've face in recent decades, and highlights qualities of Bitcoin (and to a lesser extent gold) that counteract these trends.
They both support the argument that Bitcoin is not primarily useful as a high volume, high speed payment network (though 2nd layer solutions can serve this purpose, as well as a decrease in the rate of price appreciation long term), but rather as a store of value, mainly concerned with locking value away from central banks and governments, and in practice would as you highlight be most useful for higher value lower speed transactions.
The economic argument of sound money is that it promotes low time preference [2] vs inflationary money incentivizing high time preference.
Here's an articulate presentation on these qualities of Bitcoin that many argue are it's primary function, viewing it as an ideal store of value[0].
Here also is a book by George Gilder on the flaws of fiat currency vs sound money[1], but which also covers a much broader spectrum of economic issues we've face in recent decades, and highlights qualities of Bitcoin (and to a lesser extent gold) that counteract these trends.
They both support the argument that Bitcoin is not primarily useful as a high volume, high speed payment network (though 2nd layer solutions can serve this purpose, as well as a decrease in the rate of price appreciation long term), but rather as a store of value, mainly concerned with locking value away from central banks and governments, and in practice would as you highlight be most useful for higher value lower speed transactions.
The economic argument of sound money is that it promotes low time preference [2] vs inflationary money incentivizing high time preference.
[0] https://youtu.be/ukjDCeuNK3Y
[1] "The Scandal of Money - Why Wall Street Recovers but the Economy Never Does"
https://www.amazon.com/Scandal-Money-Street-Recovers-Economy...
[2] https://en.wikipedia.org/wiki/Time_preference