Honestly I dont understand how it could be a threat, it would be good enough to make bitcoin completely unusable by the newbie, but it would not stop the veterans from using it.
Its proven fact that bitcoin is nearly indestructible , it has faced so many challenges. it thrives still even if it has downfalls.
Every crypto are indestructible, but there is only one survivor in the fittest system, no two or more of them, but bitcoin undoubtedly would be the only one of the fittest.
Bitcoin has the potentials to strive above all other inventions around us because of it complexity in nature. Bitcoin be the mainstream manifestation of the blockchain is almost immortal as i presume it to be from others.
Telling your friends not to buy Bitcoin may not be rational because of it hashrate, so, recommending this to a friend, what are the provision/route such individual or friend would go through to get the said bitcoin for sale? Assuming such friend has no account on BT.
No doubt it is one of the wonderful invention to date, just because it create wealth from nothing, all other great inventions in the history also create a lot of wealth, and no exception for bitcoin.
The nature of human being chasing the same wealth and create a cash heist, known as greed. Which has destroyed life over and over again, of course we should get smarter and not repeat the same mistakes. Definitely not going to tell them to buy into the cash heist.
If every invention would create wealth, instead of advising them to buy into the invention, I would tell them to create a new invention.
And there is just so many inventions we can think of in the crypto space, think about ICO, hardfork, masternode, token swap, crypto kitties, etc, I couldnt believe all these blasphemy at first, it took me long enough time to accept all of them as a legit inventions.
But none of them can beat the fittest survivor.