- It may or may not be a viable instrument for store of value but not sure if it will be a real fiat currency. Bitcoin isn't backed by anything. Of course, cry

- It may or may not be a viable instrument for store of value but not sure if it will be a real fiat currency. Bitcoin isn't backed by anything. Of course, crypto aficionados will argue that neither is the USD, but I disagree. The US Petrodollar is backed by a massive overpowered military that will exert pressure on anyone who will try to do otherwise. Plus, the entire world currently has mostly decided that $$ is officially the world's reserve currency. Bitcoin has to be way easier to deal with if it wants to take over the system. Even with the weakening dollar, it's more realistic that a basket currency of Euro/USD/Yuan would take its place rather than Bitcoin. - The proof of work system is a massive waste of energy. - What happens when the max number of bitcoins that can be minted is reached? Why would most number of miners even still be on the blockchain if it isn't lucrative enough? One could argue that they could still make money off of transaction fees, but that has to be high enough to break even. That's another issue then -- high transaction fee. - What about the dormant coins like Satoshi's wallet and all the other people who just lost their keys/wallet. Is that money just dead? What would happen to the value if there is a sudden influx of these coins on the market? - The BTC numerical isn't human friendly. Most people won't be able to easily wrap around the fact that they have to pay 0.00000000126751 BTC for their pizza. Oh, now calculate tips. - Almost everyone who holds is 'hodling' hoping for it go up. It's not being used as a currency but as a speculative security, at least for now. This is especially true if you 'hold' bitcoin in platforms like Robinhood, etc. where you don't actually hold your own coins/keys. This has all the hallmark of Greater Fool's theory written all over it. - I think cryptocurrency in general will be an integral part of the future, just not Bitcoin. I would love to hear arguments against my view from fellow HN'ers who are pro-BTC.