You are asking a good question but in wrong forum. It is like going to a casino and asking people there whether betting is good or bad.
The hype was so strong that it is not easy to pull these people out the spell of the coin-talk. It gives a trance feeling making them believe that they just discovered some great secret open world that is not visible to others. This is a cult effect. It stops them from thinking or questioning further after they were amazed by a dose of tech stuff and then they look around the table and see that everyone is nodding their heads in trance. You naturally go with the flow. You forget that there is world outside the casino.
People even talk as if the government and taxes are even required. Flooded by the libertarian talk, people forgot to question the relevance of the new currency in the context of real world.
The real concerns are not in the technicalities or robustness of the cryptography or blockchain, but in their applicability to real-world contexts. Most of this hype talk doesn't even look at differences between asset and currency nor the interactions between real-world systems and crypto payments, which is the concern of several governments and banks.
Bitcoin will stay secure, pure, math beauty but will be unlawful for anything related to financial use.
People also buy into silly analogies such as saying that cash has the same regulatory issues and criminal use. This reasoning pushes some more people into trance, with no further thinking.
Remember folks - between government and bitcoin only one will survive. Not both. The script kids who love anonymity and hate any social control, are recruiting and marching huge number of innocent armies of poor blind-folded investors into an already lost battle.
Added to the confusion, there is a good amount pseudo-intellectuals, academics, analysts and celebrities who show off their ability to understand this great stuff. Look at how these great minds spoke of ICOs with such great language and motivational talks. It fell flat with one government banning it. And there is no reason why other governments would allow such stuff. All these great tech minds have gone into hiding now. Ether will disappear and Mr Vitalik will go offline to learn about how real world is different from tech. Not sure he had time to go to college anyway.
The traders are experts in riding the waves of volatility, but the retail investors will be punished for their greed.
Bitcoin 'is a fraud' that will 'blow up,' says JPMorgan Chase CEO Jamie Dimon
Is this a fact or he is just creating another FUD?
See the two sides below
"Speaking at a bank investor conference in New York, Dimon said, 'The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.'
"Dimon predicted big losses for bitcoin buyers. 'Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.' he said. 'Honestly, I am just shocked that anyone can't see it for what it is.'
'Like it or not, people want exposure to bitcoin,' Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc., said at the same conference.
Any good trade is started with a difference of opinion, Tilly added. 'So Jamie can be on the short side and the issuers and those trading in physical can be on the long side, and it sounds like we have a great trade.'
