Thanks for the article @jrcornel. The issues you describe in South Africa are common around the world. Just take a look at the USD and it's steady decline of value over the last 30+ years.
The more money introduced into the economy, the faster inflation devaluates the currency. With Bitcoin there is actually less coin available every year, despite the thousands of miners producing more coin, because more people see it's true value and potential and don't want to sell it. People are starting to really horde BTC's and its only making the price stronger.
Yep I see that as well. However, that reason might be why it never catches on as a currency but instead is more like digital gold. For a currency to be useful you don't want people hoarding it, you want them spending it freely...