I believe that the long term future is bright because bitcoin and the case to be made for it in terms of cheap way to remit funds has not even begun to be heard by the vast majority.
For example here in New Zealand we have about 4 million people. We have a website called 'stuff' which is the website for the largest and very dominant newspaper organisation in the country.
if you search the site for bitcoin you get just 500 results and none of the top 10 items the search throws up really talks about bitcoins benefits. (its all drugs, price collapse from $1000 etc).
Yet remittances for example to the Pacific Islands from expats working here is big business.
And the savings from using bitcoin can be substantial.
eg Currently transferring NZ$500 by the banking system after all fees means in fact on average only $451 of actual value is transferred.
Keep calm and carry on.
if you think the existing financial system is not developing their own blockchain to make international transfers competitive with bitcoin you are delusional.For example here in New Zealand we have about 4 million people. We have a website called 'stuff' which is the website for the largest and very dominant newspaper organisation in the country.
if you search the site for bitcoin you get just 500 results and none of the top 10 items the search throws up really talks about bitcoins benefits. (its all drugs, price collapse from $1000 etc).
Yet remittances for example to the Pacific Islands from expats working here is big business.
And the savings from using bitcoin can be substantial.
eg Currently transferring NZ$500 by the banking system after all fees means in fact on average only $451 of actual value is transferred.
Keep calm and carry on.
Alternative Currency Blockchains will have to compete with the Bitcoin protocol (including the reward system which needs to be attributed value by the free market) as well as compete with the Bitcoin network, which already has more computing power than all the worlds super computers combined. If you think that is an easy feat to accomplish, YOU are being delusional.