Quote from: hatshepsut93 on August 13, 2017, 06:24:17 PM

Quote from: Highryder on August 13, 2017, 02:00:01 PM

Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?

First, there is the scaling problem. You might think that this only affects Bitcoin, but in fact it's the same for any other cryptocurrency - they can't process more than 20-30 transactions per second at best, while visa is processing around 3000 transactions per second. There will be lots of improvments with cryptocurrencies that will increase their capacity, but demand will also be growing, because right now only around 40% of humanity has access to banks.

The other factor is how attractive they look, in comparison with traditional currencies. Most users won't care about decentralization and financial freedom, they need fast, simple, cheap payments, and if cryptocurrencies won't be able to provide this, than they will be mostly used by people who need their special features.

I'm sure that cryptocurrencies have a bright future as assets, but their utility as currency remains uncertain. I have a very high hopes for the Lightning Network though.