There are so many glaring issues with BitCoin that it's insane that there are people who are dumb enough to buy it at these prices. 1) 96% of it is controlled by 4% of people. That means if it were to become a currency 96% of the wealth in the world would have to be given to 4% of people either through goods or a fiat currency. 2) It's just a matter of time before enough people lose their private keys that the total number of coins in circulation reaches 0. Already, something like 30% of current coins are considered "lost".