20k$ dumped to 6K$ was difficult but happened, 6k$ to 500$ is very easy soon will be worthless, So Why Some People Dont Believe BTC is SCAM?
It's not a scam. It's not a failure either. Bitcoin is simply outdatedBTC has been on the playing field for over 7 years... And what should we expect from such a coin? To still be standing strong among all the others?
No, I'd have rendered it worthless long ago already, yet it's still standing and the largest coin at the moment!
There are so many coins that are much more potent than Bitcoin, offering faster & cheaper transactions, more anonymity/easier regulation or other awesome features.
Bitcoin was a great step that had to be taken to start the era of cryptocurrencies and so I would not call it a scam. I wouldn't call it a failure either. It's very simply an outdated coin and I expect it to steadily decrease in value, until it reaches a "collector's item" status. But with 21 million coins available and only a couple collectors, I doubt Bitcoin will stick at a high price.
The main cause of its current reasonably high price is the ignorance of people... There are a lot of inexperienced investors who don't know a lot about Cryptocurrencies and only see Bitcoin in the news. What is the result? They put their money on bitcoin! The second reason is a bit harder to overcome: Bitcoin is by far the most accepted cryptocurrency... If I look for webstores that accept cryptocurrencies, there are quite some stores that accept Bitcoin but I rarely see any accepting other cryptos.
So to answer your question: Is bitcoin a scam? No, it isn't. It's simply an example of outdated technology.