Cryptos have unique features which never existed before. Certainly there is a top to crypto, but that top is something like 12 to 20 trillion in market capitalization. So like a gold bar national currency, you generally can never send those internationally and have the transaction arrive within 3 seconds. With Steem you can. But Steem is not banking integrated. Ripple will have the banking integration.
I would just say that ultimately there is a market for cryptos into the long-term, and a market for gold and silver into the long-term. Gold backed Russia or Chinese cryptocurrency would put them a step ahead in the currency market but I doubt they're that forward thinking. Governments prefer not to have accountability when it comes to currency because it lets them manipulate markets.
back to the Vitalik what do you think happen to the crypto market when etherium will switch for proof of stake? There are tons and tons of video cards sold + tons of contracts which mine etherium.. Doesn't people would want to just cashout when mining for most of them isn't so profitable?