Bitcoin = Bit Con?

I have not made up my mind yet. I must admit to being curious. I have some genuine questions.
Is it too good to be true?
Is it just for criminals and thugs?
When will the bubble burst?
Does it automatically make you an enemy of the state?
What is the worst that could happen?
Will someone ever decipher the code, and if so, what then?
If we woke up tomorrow and it was just not there, what would happen?
I want to know your genuine thoughts, the latest quote I heard on 4-Jan-2018 was about [b]$14,000 USD for one Bitcoin.[/b]
I am learning as I go. To the best of my knowledge the banks refuse to have anything to do with it saying that Bitcoin is unregulated. But that claim is not true is it?[b] It is not regulated by the banks or the government but it is regulated by the investor/user. [/b]It looks like a completely free market or am I dreaming? If you respond to this post, please say a bit more than yay or nay. I want to know the reason for your choice.

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nedkelly · 61-69, M

Remember the DOT COM bubble burst - this is another scam

will999 · 70-79, M

@nedkelly Yes I remember it but I was not hurt personally because I was not heavily invested in it. All bubbles burst eventually. But all conventional currencies have the same weakness. Remember the GFC of 2007? The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. ... That created the financial crisis that led to the Great Recession. The banks are a scam too.

will999 · 70-79, M

@nedkelly If it is just another scam who is profiting?

nedkelly · 61-69, M

@will999 https://www.forbes.com/sites/jayadkisson/2017/12/28/the-great-bitcoin-scam/#4316cb905c1e

will999 · 70-79, M

@nedkelly I just checked that article at forbes.com with google. In the opinion of that author Bitcoin itself [b]is not a scam[/b] but its promotion is giving people unrealistic expectations. That sounds to me like a reasonably cautious appraisal. IMHO the price will fall when people stop buying it. Maybe I'll just spend my retirement nest egg on a bucketfull of gold sovereign coins.They will always be negotiable. The only way that the price of gold can fall is if the currency strengthens i.e if the price of gold falls so will the price of everything else.

will999 · 70-79, M

@nedkelly Hello again, Crypto currencies have taken a beating in the last few days haven't they. Since China and Korea both decided to ban all trading in Bitcoin as an official policy Bitcoin lost half it's value overnight, but some people are still holding on. Can anyone produce a reasonable estimate of a sustainable price on it? I'm not holding my breath waiting. The roller- coaster ride could be all over tomorrow. To me the long term price looks like $0.00. Apart from it's very thin skin a bubble is mostly nothing. We may just as well gamble on two lizards crossing Flinders street.