Not exactly that much, it was a cheap piece of crap...I only tested the internet speed of it once, I doubt it has high-speed internet. It also is not illegal, unless you don't check with the local airforce/air controllers/ect.
A cheap rocket launched from your backyard would
never cut it. You need to spend a lot of money to get something into orbit.
You would also need the green light from the government. The Air Force or controllers don't have the authority. Less give it to a teenager that wants to launch a cheap rocket.
I also doubt you have the knowledge to pilot the rocket or know any formula to calculate how fast the satellite would need to be going to sustain an orbit.
Not to mention you have no idea where all the other satellites are in space, how much troupe would you be in if you hit on of them.