All it takes is for a few countries to be liberal in their approach to cryptocurrency which we are seeing more than one instance of right now... then frankly there is no stopping the blockchains from thriving and eventually countries which do try to regulate it out of existence will eventually give up and pull a 180 due to the shortsightedness of their folly. IMO
There no doubt will be more to cryptocurrency than just Bitcoin,but BTC has a
significant first to market network advantage and therefore in a world where a handful of countries, say Holland, Germany, Estonia, Finland, Denmark, Sweden, Australia, Canada, Japan, South Korea, (Russia
) maybe even the UK and the USA do not ban BTC,cryptos (or any other public/private key encryption for public use) then it does have a good chance to continue doing what it has done, and continue growing the ecosystem. Then there is going to be a proper set of enclaves,where the ecosystem can continue to grow, more miners can set up - and everyone can operate in an environment of regulatory understanding...I mean its not even a fantasy, it is literally happening in front of our eyes. Good luck to any other country that has banned BTC, as their citizens will run rings around them, unless they intend on cutting off their entire countries internet access to the outside world that is, otherwise people will easily still be able to connect to the network,connect to a node -the network- blockchain(s) will be literally surrounding, on land, under the sea, in space,
good luck stopping that.
Therefore the blockchains will continue, and BTC for now has built a strong enough base, and is a good enough first to market protocol with 1st market network advantage (sound familiar?) It has a fair chance, and as it is still being developed and built upon and layered - I think it is doing just fine.
Anyway in countries where the public have a strong opinion about privacy - this is not just going to get swept under the carpet- sorry but it is not.
Other countries- say China for example that try to
outright ring fence their citizens from it will fail.
The Chinese people that want to will find a way.. besides I still think China is playing a longer unseen game here- crypto is not dead in china I expect some sort of CNYT coin to control fiat on and off ramps to attempt to stem capital outflows along with stricter exchanges and ICO laws - some of the exchanges have been naughty boys indeed! I still fully expect there to be a regulated market there in the future.
I do not thus far see any good reason for BTC to not continue to thrive and take advantage of its network advantage-nor do I imagine it will be the only cryptocurrency or blockchain being used for many various reasons..there will be others that do well too.
The market is screaming for exactly what BTC and other distributed decentralised incentive based blockchains can offer... look at all of these security breaches that occur in traditional centre out data security systems in use- they leak like sieves. I am sure many blockchains will thrive in this "Brave New World".
There is IMO yet another wave coming over the next year to eighteen months... from the network effect, from further investment into the ecosystem, as well as maturing projects involving BTC (and others) hitting market with products and services and infrastructure and marketing budgets. Countries that I listed above are encouraging innovation and in the other parts of the world Africa,India,South America, SE Asia etc are all starting to gain more traction...more users are coming...we all know the market and infrastructure is growing and starting to form.... so it is business as usual
And...as usual... expect price volatility.
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