I wouldn't waste my time reading an article that repeats everything that BTC haters and FUDsters have been saying about Bitcoin during the last 10 years.
1.Bitcoin is a bubble?Yes,the Bitcoin market can form price bubbles.Every financial market is forming price bubbles.Is there something wrong with that?
2.The "crypto whales"/"crypto elite" is a bunch of greedy scammers.
Well,some of them can be called scammers,some of them are actually legit.Bitcoin cannot be called a scam only because scammers are using it.Being greedy is still not considered a crime.
3.Bitcoin is an investment/speculation tool rather than a real currency.
This is partially true and there's nothing we can do about it.
It is all what they have and each day their arguments are becoming less and less convincing, after all people will not go against their self-interests, if they can profit from bitcoin or at least they can protect their wealth with it then they will use regardless of all what they say, and this is what it is driving them crazy, they know they cannot kill bitcoin but they thought that they could at least discourage people from adopting it by spreading lies and old arguments like the ones you bring, but now that the economy is not going well they are realizing this is not something that can be done forever and this tactic is losing its effectiveness really quickly.
For a government that sees bitcoin illegally, then it will be expected that there will be people who will start attacking bitcoin and notice all its flaws and imperfections. I think that's normal for those close minded people and all they have are lies about bitcoin. But if they will start to go down deeper, i think they will see bitcoin as more profitable and has lot of potentials to make one's economy grow and prosper. But as long as the government still oppose in adopting bitcoin, then these people will not discover the real value of bitcoin.
However, bitcoin is definitely not a bubble because there's no bubble actually that can sustain its value and foundation over a decade.
I think that governments are still on the fence about what to do with bitcoin, on one hand this is a new industry and they would like to get a lot of taxes out of it, but at the same time they are doubtful as they know that bitcoin is a direct competitor to their own fiat currencies, so they are trying the best approach for them which is to try to regulate the industry as much as possible, but bitcoin was specifically designed to avoid this, so no matter what they do they will never get the control over this market they are looking for.
Government had definitely trying out their best on surpressing on cryptocurrencies for years now and i dont believe that they had find up some way specially on technical aspects but for other things like on stricting regulations then this is the only way they could do things.
The market is really reactive to news specially in regulation and banning issues but doesnt mean that we would really burst up.
The market isnt something just like before where it is established by hype and fomo.Now we do have that strong support and adoption.
