Bitcoin seems to be more interested in forking than realistic scaling. If Lightning network comes online it will go a long way toward Visa / MC transaction processing speeds. If a financial collapse happens and bitcoin is seen as a safe haven, but hasn't scaled, bitcoin will become expensive for transactions and painfully slow (as was the case before segwit this Aug).
So in the near future, I think bitcoin is the Yahoo! of finance. You know what comes next: the search engine wars. This represents the proliferation of altcoins. In the next couple of years I would expect market cap to spread out over several of the top altcoins. Eventually one of these will become the next Google of finance.
The psychology is also very different for billionaires investing in bitcoin. Billionaires are very risk averse in general. They don't have much of an up side, but huge downsides investing in crypto, so it will take a lot for them to go all in. I don't think that it's realistic to have that hope.
Some billionaires also recognize moves like this and so a big uptick in price might be the cause of short selling. I don't think this is very good for the bitcoin market in the long run. The minnows will get scared off holding much if that happens.
The best scenario is that the 3rd world takes it on because they are unbanked and they very gradually use it not as an SOV, but as a transaction facilitator. This requires scaling and bitcoin is nowhere near capable of becoming the Visa / MC replacement... Yet.
Bitcoin seems to be more interested in forking than realistic scaling. If Lightning network comes online it will go a long way toward Visa / MC transaction processing speeds. If a financial collapse happens and bitcoin is seen as a safe haven, but hasn't scaled, bitcoin will become expensive for transactions and painfully slow (as was the case before segwit this Aug).
So in the near future, I think bitcoin is the Yahoo! of finance. You know what comes next: the search engine wars. This represents the proliferation of altcoins. In the next couple of years I would expect market cap to spread out over several of the top altcoins. Eventually one of these will become the next Google of finance.
The psychology is also very different for billionaires investing in bitcoin. Billionaires are very risk averse in general. They don't have much of an up side, but huge downsides investing in crypto, so it will take a lot for them to go all in. I don't think that it's realistic to have that hope.
Some billionaires also recognize moves like this and so a big uptick in price might be the cause of short selling. I don't think this is very good for the bitcoin market in the long run. The minnows will get scared off holding much if that happens.
The best scenario is that the 3rd world takes it on because they are unbanked and they very gradually use it not as an SOV, but as a transaction facilitator. This requires scaling and bitcoin is nowhere near capable of becoming the Visa / MC replacement... Yet.
I hope so
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