I don't think any altcoin's market cap will go above $1B. To get this altcoins must be used for investment purposes, but the most safe cryptocurrency is Bitcoin therefore all investment capitals will move into it.
So you don't think crypto will form one big pyramid, evenly distributed, with the best coins at top, and the shitty ones at the bottom?
I think bitcoin could potentially match or overtake golds $7T market cap.
But, I find it hard to believe bitcoin will soley exist without close competition.
Thanks
there may always be many alt coins, but i find it unlikely there will be many the are processed the same way. there will be a most popular sha-256 coin, the most popular scrypt coin etc etc. im guessing more more then 10 lasting cryptos.
the value of bitcoin is directly related to the network hash rate. if all those mining alt coins were to mine bitcoin and hold, people would say its "unprofitable to mine at xxx price" and refuse to sell. alts are (from my understanding) used to spread the word of bitcoin more than anything else. there are very few that have any real value. ive heard that nextcoin and anoncoin have some really good qualities but i havnt bothered to research them in detail because i feel they will be used to shoehorn in bitcoin, as has been mentioned in the NY regulation meeting.
imo bitcoin will be mainstream soon and be 99% used for legal buys/sells and some altcoin with more secrecy like built in tumblers and etc used for black market style transactions.
