What is money? basically
- Measure of value: Bitcoin isn't a measure of value because it has too high volatility (in facts, 99% of those who accept payment in bitcoin converts as soon as it can on an exchange for fiat; The others are accepting BTC as an investment, non usable money).
- Payment instrument: Bitcoin isn't a payment instrument first because simply it isn't usable (it can handle less than 1/1000 of all transaction of the world, with more network becames frozen) and second because use costs are very high (10-20 dollars for transation). We will probably need to wait for better developements of bitcoin (lightning network at the end of 2018?) or use other cryptocurrencyes (like litecoin)
- Store of value: bitcoin isn't store of value because it s price is too unstable. A money that can loose 10% in 60 minutes is not a store of value, it is only a very interesting speculative asset.
So, waiting for future evolutions, this bitcoin can't be considered an efficient money. It is simply the first of a new asset-class and a laboratory for the developement of blockchain. But no, at the moment it isn't the new world free money