From my understanding, bitcoin has a lot of opposition from the traditionals but there is also a lot of support for it because people are looking for cheaper and easier alternatives so could bounce like a superball.
The major challenge is whether bitcoin can become stable and trustworthy. Personally, I have never taken the risk with it and probably never will. I hear there are ATM's which solely deal with bitcoin.
Bitcoin is open to corruption and speculation so the officials will try to shut it down. If however, the governments and banking systems can control it and receive their cuts, it could become a stable currency and benchmark for other currencies. (Hypothetically speaking). After all, we do need a global dollar which is independent to all currencies.
Imagine a global dollar that is always worth $1 and all other currencies are valued against it.
Some background readingFinancial Review - What the hell is BitcoinBitcoin.org - How it worksWired.com - The promise of BitcoinFast Company - Concerns about Bitcoin
