Tbh, like many have said, the technology behind the blockchain is the future not the actual crytocurrencies themselves. Cryptocurrencies will keep rising in the short term, but eventually there will be a MASSIVE drop....perhaps even to zero. This is almost certain to occur in my opinion.
Governments have 2 tools to maintain economic stability, monetary and fiscal policy. If bitcoin was to become more important than fiat currency, then the gov loses it's monetary policy- this will NEVER happen, it is too important.
Governments don't have to outright ban cryptocurrencies, they merely have to release a state endorsed digital currency regulated by the central bank. This renders private currencies void....
Only currencies that make active uses of the blockchain technology for services eg Ethereum/Lisk will survive. Most of the growth in alt coins is sheer speculation nothing else.
'Governments don't have to outright ban cryptocurrencies, they merely have to release a state endorsed digital currency regulated by the central bank. This renders private currencies void.... '
Nuh! If one is avidly following the economic theory of the GFC -- I have been since January, 2008, when oil hit $100 a barrel -- you understand that the 'debasement' of fiat currencies is what's keeping the show on the road.
So, indeed, when Guvvy Coin is launched, plenty of folks will be attracted to it . . .
initially.But it won't take long for them to understand that an 'e-fiat' can be debased in exactly the same manner as a fiat currency. Then they'll realise that 'hard-capped currencies' are safe-havens.
And that's exactly why the term 'safe haven' came into use about a year ago. Us long-timer geeks thought that mass adoption would follow early adoption; but no: Wall Street figured it out before Main Street, and has start
pouring money into viable instruments . . . like GRS.