1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.
-- Value is decided by supply and demand together
2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.
-- for majority of non-IT people it is true, some kind of learning is needed
3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns, and may not pay tax. Or terrorists will use btc to fund terrorism activities.
-- Gov. have monopole in domestic money supply, but since bitcoin's value is very volatile and long term deflative, it will not affect monetary policy of a country, but mostly used as an anti-inflation saving medium
4, Btc system is unsafe too, 51% attack will destroy it
-- Safety is only a relative term, 51% attack won't affect your bitcoin holdings, only transactions temporarily
5, people does not need bitcoin, they can use dollars as well
-- People need some saving medium that can hedge the risk of inflation, anything that can be unlimited produced (house or gold) do not qualify as such a medium
i would let it ride but cannot. supply of gold is finite. it is one of those elements created during a super nova.