Australian central bank says 'speculative mania' and crime fuel Bitcoin

Why use a slow expensive risky currency when you can do real-time bank-to-bank transfers?

The governor of the Reserve Bank of Australia has opined that cryptocurrencies are most useful "to those who want to make transactions in the black or illegal economy, rather than everyday transactions" and concluded that current enthusiasm for the instruments therefore "feels more like a speculative mania than it has to do with their use as an efficient and convenient form of electronic payment.""