No one knows what will become of bitcoin. It is mostly unregulated, but some countries like Japan, China and Australia have begun weighing regulations. Governments are concerned about taxation and their lack of control over the currency.
At any event, can Bitcoin be used as currency?
Despite its well known classification as a “cryptocurrency,” Bitcoin cannot be a currency because it has intrinsic value. While some would argue against it, the resources spent to issue new units ensure that, unlike fiat currency, Bitcoins cannot be created out of thin air.
In overall, why is Bitcoin illegal in some countries? While Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current monetary systems, and links to illicit activities like drug trafficking and money laundering.
At any rate, why is Bitcoin so expensive?
Bitcoin's value derives from supply and demand. At least, supply and demand should dictate the price—but the price of Bitcoin is subject to a range of influences that mean it can change without warning.
Is Bitcoin worth investing?
You can easily trade bitcoin for cash or assets like gold instantly with incredibly low fees. The high liquidity associated with bitcoin makes it a great investment vessel if you're looking for short-term profit. Digital currencies may also be a long-term investment due to their high market demand.