The Crypto currency bitcoin is like a dollar; neither has any intrinsic value of its own. However, when the dollar is backed by the trust of a federal government it's becomes legal tender. Bitcoin is based on the decentralisation of trust, and no single entity controls it. The best thing about bitcoin is that monetary policy is inherently coded within in it, so protecting it from inflation. However, there are some concerns regarding the misuse of bitcoin in illegal activities. It has both pros and cons, and time will tell whether it's digital gold or fool's gold.