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As long as I am certain, I know that bitcoin has long grown pass the stage of skepticism (whether or not it is a scam). Bitcoin has vindicated itself several times amidst all kinds of allegations of it being scam or some kind of Ponzi schemes. Maybe what people should be asking or considering is how long bitcoin is going to last. Whether bitcoin will be in existence as long as internet is functional or it will be defeated by the government one day
What you call the biggest fraud happens now with bitcoin also. Many people in different countries pay hugely in the name of cryptocurrency tax. The government of many countries have discovered how to successfully task bitcoin or crypto earnings.
Well, that is kind of expected. The government might never have full control over it, but there will always be a time that come where they will successfully impose a tax to each and every person who gets involved with cryptocurrency mandatorily without a single hole to escape that biggest scam in life LOL.
Here in PH, they released a notice to the public that any crypto related transactions should be taxed, but there's no way they I can identify who owns one or trades one. So, now they are targeting the local crypto exchanges and even Binance, which they have threatened to ban in the country, but did a delay because they never got even a single response from the team.
Nevertheless, there are still people who believed Bitcoin is a scam, but I understand where they're coming from as they never had any idea one is Bitcoin since.