One technology investor and shareholder James Altucher foresees the fate of Bitcoin and other crypto currencies in the future. Here are the prophecies delivered by him:
At least one country's currency is likely to disappear in the near future - possibly Argentina or Venezuela. This will lead to mass adoption of Bitcoin among these populations. In turn will cause the value of Bitcoin to rise to over $ 50,000 when it happens.
There will be many mainstream Banks receiving Bitcoin, and will start offering storage access and various software. They will also create crypto currency derivatives - just like what CME would do.
Despite optimism, there will be a massive extermination, of which 95% of existing alternative coins will be lost - such as dot-com bust. Meanwhile, the coin that survives its value will rise one thousand times. This will happen within the next four to six months.
The American Government Siriikat will quietly start collecting one of the smaller cryptoes to facilitate gray area transactions with other countries. It's starting to happen but it really will start increasing in 2018.
China will invest heavily in other crypto-crypto, but may not use Bitcoin. China wants to have a competitive crypto currency with Bitcoin, but is under its central control. This will generally provide legitimacy for all crypto currencies.
One of the major problems in the most serious crypto currency today is its instability. At least one - baseco - is likely to be eroded dramatically by 2018/2019.
More companies will pay freelancers with crypto currency, which will lead to calls for tax reform. There needs to be a larger regressive sales tax, which will ultimately require cuts from governments and ultimately reduce power for national governments. This is a long-term prediction.
In the same way as the Internet can change the monopoly of the phone industry, crypto will also change the monopoly of government-backed money.
A new government organization will be created to analyze regulations on crypto currency. And this will cause a huge increase in Bitcoin and coins that provide actual utility.
Thousands of crypto companies will be created and go public, but few will be a huge success.