I think we can all agree that cryptos are here to stay and only the form and applications are yet to be determined.
Has any one considered the threat to independent cryptos that a gov't or central bank issued crypto represents?
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While we might get the benefits of electronic payments that come with a digital currency, we would completely lose the protection from the manipulated value (or devaluation) of the dollar.
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I don't think the threat is really there as much as you put it. Those regulated currencies have some benefits and are likely to become used a lot. But what does it have to do with other currencies? They will still remain independent, as I see it. Maybe they won't become means of payment for goods in everyday life, but surely they can be used for trading, gambling, as means of payment for someone's work and in online shopping where the prices can be adjusted fast enough.
I guess the real threat to cryptocurrencies is possessed by us, users, who are willing to pay a lot for something we can't even touch. Maybe some day the price will be too much and so they'll crush, because the demand was not as strong as it seemed to be.