Can you put away your arrogance?

[NeuroticFish]

1. Price of anything can go up as well as down so the price is not bound to grow. People thought MySpace was going to grow forever and look where it is now (just an example).

You may have a point here, price is bound to grow as long as people are interested by the topic.
Facebook made people lose interest in myspace and.. that's basically end of story there. On the same page something really better than bitcoin may need to emerge to make people "forget" about bitcoin.

2. Currencies are backed by the economies, stocks are backed by companies' profits. On the other hand, Bitcoin has no intrinsic value, so once the hype goes away and people switch to something new, the value of bitcoin will diminish.

Then how comes that without any change in the economy they decide to just print a couple more billions of dollars? I find those even more a definition for something with "no intrinsic value".
I'll come with your example about myspace: company's profits may turn south very easy, isn't that investment gambling then?
And the fact that big companies, with people hired to think this over very good, turn their reserves into bitcoin tells me that it's not just an ordinary hype.

3. Crypto market is unregulated so it's a very scammy industry and regular folks should stay away from it unless they are happy to give money to scammer.

While a lot of altcoin projects were scams, bitcoin proved itself in his 12 years that it's not a cheap scam.
Most of those scams are targeting the people too greedy to sit back and think it over, so I would not be worried about them.
Your generalization would be like "I see every days at TV that cars are crashing and people are dying, so don't buy a car, it's not good".
And regulations.. they are coming. In some countries faster than the other, but they're coming. Hence if you look a little bit around you can easily find reputable businesses you can work with.


Of course, it's easier to just come and bash/complain than look a bit around and read more. But it's your opinion, do as you think. Bitcoin is clearly not for everybody, some will always find it unsafe or too expensive.

[TheNineClub]

I'd have to agree to an extent on his 'BTC a religion' comment. Unfortunatelly, it sometimes looks that way and is in most cases prompted by influencers laying the whole thing a bit to thick. That's giving crypto a bad name. Not all of us are like that and not all of us are here for the same reasons, but those preachers are reciting the gospel of crypto like it's the best thing since sliced bread. But you have that in every field.

[KingsDen]

3. He pointed out that the public chain cannot be upgraded, otherwise the consensus will be torn and various forks;

Public chain can be upgraded but it doesn't happen easily or quickly, and before it happens there will be glaring need for it. Hence, soft fork and hard fork.
Have you not seen some systems that undergoes an update, and the former update betters the current?
Though difficult to implement in Bitcoin, yet that's the nature.
As for the poor efficacy of blockchain, I'm yet to understand.