I am not a fan of cryptocurrency but I do believe that it will form part of modern commerce, competing with paper money. It may have no intrinsic value but that does not matter. People pay for arts, spending millions of dollars for wood. The same can be said of gold which has marginal industrial use. Yes, gold does not have much intrinsic value. But people invest in it.
In this video, I explain on the certainty of cryptocurrency in our age. It will not go away. Yet, I cannot make a call which of the currencies will survive. There may be a bubble or not, but that is irrelevant. Even after a bubble, the party will continue, because crypto-currencies like Bitcoin will not disappear in our world. No technology has ever become as popular as cryptocurrency within a very short time and then fizzles.
Just like gold and art, if the people think Bitcoin is worth $6,000, that is what it is worth. Provided there are believers, Bitcoin will be here. It has crossed the inflection point to be irrelevant. But even with that, it is possible Bitcoin will fade and another cryptocurrency will take over. But one thing is certain: cryptocurrency will be here. If that is the case, delaying its baptism is waste of time by national governments.
--- Read my new books Africa's Sankofa Innovation and Cybersecurity and Digital Forensics (we've started posting, one chapter per day). All books, exclusive articles, etc for $20 (or N7,000) per year. Also, we offer Advisory Services (tech, strategy & Africa)