The original Bitcoin protocol is very innovative. However, there are several reasons for why today's cryptocurrencies will fail:
1. Too slow transaction times for general use.
2. Too bloated block chain for mainstream adoption.
3. Having to store coins "under the mattress" is a step backwards.
4. Proof of work will lead to too large transaction fees.
5. Proof of stake leads to the rich getting richer.
6. Lack of government support prevents mainstream use.
7. Trading against ordinary fiat currencies causes volatility.
1. Too slow transaction times for general use.
2. Too bloated block chain for mainstream adoption.
3. Having to store coins "under the mattress" is a step backwards.
4. Proof of work will lead to too large transaction fees.
5. Proof of stake leads to the rich getting richer.
6. Lack of government support prevents mainstream use.
7. Trading against ordinary fiat currencies causes volatility.
If u were in 90s, u would have said the internet will fail too. Some people simply cant see the future...
I wrote today's cryptocurrencies. I actually believe some new cryptocurrency will become a huge success. And one issued by an official authority. With fast transaction times, zero transaction fees, a user ID system and stable price.
The biggest problem today is cold storage. That's worse than money in the Dark Ages. And trusting some third party like MtGox is also horrible.
There is already one for you. It is called FB credit.
By the way, do u understand the basic concept of decentralization ?