Definitely you can confirm the mechanics behind is working, however for a monetary premium product like bitcoin/gold/oil, the volatility makes or breaks its use as a currency.

And this really is the key.

Volatility can kill currency, it kills the raison d'etre for a currency as a tool to facilitate trade and enable economy growth. It only works if you treat it as an investment asset, however bitcoin maximalist would tell you bitcoin wins out to be the sole money towards the end.