BitCoin is a medium of exchange like any other money before it, from feathers to paper backed by military force (US dollar). The fact that fiat currencies can be printed willy-nilly without the discipline of anything to back it with (ie gold / silver) is the direct cause of all the evil in the world today. The Cabal in charge of the printing press manipulates the entire physical paradigm of existence and eventually destroys it.
"Permit me to issue and control the money of the nation and I care not who makes its laws. — Mayer Amsched Rothchild", 1800's.
I hear idiots talking about Ponzi schemes, bubbles etc, and don't have a clue about the fundamentals of money. it's a MEDIUM OF EXCHANGE. Like any other medium of exchange, criminals can build ponzi schemes ontop, markets can get excited about it and create bubbles, like anything else. Money is a store of value, period. The difference here is that the value of it, vis-a-vis how much stuff you can but with a unit of it, is determined by far more parties than has ever been possible. This is the proper market democratisation of trust in the unit. The US dollar currently is run by a tiny private Cabal inbreds.
For the love of Christ, learn about and understand money in history first, the role of Gold and Silver for 5000 years, the attempts by Government to eradicate Gold & Silver so they can print money and fund wars etc etc, then comment.