Everything that you say can, from investor standpoint, be quantified. They are very real things, and they carry a certain probability, and have a certain effect. Bitcoin has suffered quite a lot during its existence, and the outcome is 100,000 times value increase since the end of 2009. It has not been easy during this time, and the growth has happened nevertheless. Assuming that with overwhelming (>>99%) probability Bitcoin is destroyed in an instant with no trace of recoverable value left, still does not make it a -EV proposition for the following 5 years!!   (if the positive case is that it replaces fiat)

To rationally decide to not buy a lot of bitcoins, you have to explain why it is impossible for Bitcoin to replace fiat (as a store of value, at least). Because I think it is almost inevitable, just like all the other new technologies that just were better than the previous way of doing things.