If nothing else, bitcoin was supposed to protect people from governments that were destroying their own currencies — governments such as Venezuela’s, where inflation is said to be somewhere around 49,000 percent right now. Lately though, bitcoin hasn’t fulfilled that mission. Not unless you think being down 81.6 percent, as bitcoin has been down since last December, counts as “protecting” you from the 99.6 percent losses you would have taken on your Venezuelan bolivar during that time. Which, if you do think that way, tells you more about the soft bigotry of crypto expectations than it does anything else. The...