[foobarbaz33]

I myself am not into bit coin. but.... I don't think you articulated any arguments against it.

> it is a scam.

How so?

> Bitcoin is a digital currency that has no intrinsic value

Fiat currency has no intrinsic value either. Aside from precious metal coins.

> not backed by any government, which means that it can be used to finance terrorism or other illegal activities.

Illegal activity is older than bitcoin. It can be and is financed with government fiat currencies.

Unless you just mean the convenience of using banking systems.

> creating a self-reinforcing upward spiral that is unsustainable and will eventually collapse.

I agree here. The value of bitcoin is based entirely on more people wanting to buy-in. But this is not much different than any other commodity/currency hybrid such as gold.