I’ve heard mixed thoughts on if each country eventually created their own cryptocurrency, would Bitcoin still be number 1 or would it fizzle out. Some say it would legitimize Bitcoin even more, others say it would make Bitcoin obsolete.
What are your thoughts?
It will always depend to the governments because if all the governments will decide to continue the usage of bitcoin then it will not fade nor become obsolete as many can still use it as form of payment and or investment. But if all the governments will decide to let their own people to only use the local currency that was created by their country and other than that will be prohibited then the bitcoin and other currencies will surely to collapse and become obsolete.
All of the decision will be from the governments as they have to power to stop anything they don't like to exist so the future of crypto currencies will be decided by the acceptance of all the governments even if they will create their own currency.