Some Problems of Bitcoin

Bitcoin has a lot of pros. But I before investing in something. I look at the cons much than the pros. Some of the main problems I think are:

Highly Speculative

Bitcoin is to be used as a currency. So, if you have 1 Bitcoin. With it you can buy say 100 bottle of beers today. And after a week you can buy 150 bottles. And in the next month you can buy 50 bottles. So, a cash this volatile is very hard to use in day to day activities.

What happens when it crashes?

The main question I always have in my mind is, what happens in the crash. Bitcoin is rocketing upwards means it will obviously come downward. So, it is really going to be disaster for people buying bitcoin at a high price. Generally a market crash is handled by central bank but there is no regulatory central institution. So, it is really hard to predict what happens when bitcoin crashes.
The more people use it, the higher the value of Bitcoin gets. It is a demand supply relationship. So, once bitcoin crashes the people using bitcoin will become much lesser. So, decreasing number of bitcoin using people means lesser the chance of rising bitcoin price. Lesser number of bitcoin using people is a great problem for bitcoin. It will also take a longer period of time to recover.

I not a Bitcoin expert but these are the things that I am not able to let go of. And it is because of this I am withdrawing from investing in Bitcoin. I would love to read why you think this is not a problem? Please comment.