It's mainly because what began as a currency has now turned into an "investment" and use as a currency is probably less than 1% of those involved.  People involved spend all of their time trying to get everyone they know as well as strangers to buy into it so those promoting it will gain from the new money inflows. (But don't you dare call it a Ponzi scheme since the truth tends to cause riots around here.)  It's a disaster waiting to happen...if I'm reading your question correctly as being rhetorical.  It needs to greatly come down in value if it is to become a day-to-day currency since the ridiculous price does nothing other than create obscene fees and transaction times.