Great Post. I have been involved with crypto for 3 years as an attorney and as miner. I have met and discussed these things with those at the higher end who create macro policies and those in various endeavors at the micro or mid level. Two of my best client's, who have been able to stay in business, helped me to create a list of elements needed for a successful alternate currency. The list is not exhaustive but I challenge others to add something meaningful to it. I do not name my client's as I have not sought their permission to do so.
These elements are for coins and not necessarily directly meaningful for businesses surrounding coins such as trading exchanges, cloud mining, day traders, and those on the cutting edge of utility in application, although it effects them. It seems that utility is where most come up short, and as to those that have great promise in utility, those come up short in other elements of a successful coin.
BTC has widespread utility. It can be used to purchase an enormous variety of goods and services. It also of course cuts middle man costs drastically, and in general makes for a more accountable eco system with open source, block chain and yes, regulations. It should be noted though, that many of the newer coins do many things better than BTC does. I'm just saying. There is lot's of room for improvement with BTC and we should look to and marvel at these innovations.
BTC and crypto are supplements to our financial systems. The thought of BTC or crypto replacing fiat in our lifetimes is, in my opinion, and respectfully, not realistic . Money is hard to come by and people in general want safety and security. The last I looked, the Feds do not give FDIC for alternate coin holdings.
For the average person or business to take the trouble to understand and use alternate currencies, the currency needs to be made easy to acquire, use and also present a compelling alternative to fiat in a given situation. I say "currency" loosely as alternate currencies are in general not considered by Fed and States to be a store of value and a medium of exchange that can be used at a later time with a different party; although when it comes to taxes, miraculously, they are given some weight in these areas.
The List:
Keys to a successful alternate cyptocurrency:
1. Market Cap: While obviously important is only reflective of how much money is invested into the coin; some from venture funds but more likely the majority from individuals who hope the coin will actually flourish and make them money. Most of those who buy/invest in any given coin are not likely to be sophisticated in what will make a coin flourish and last.
2. It Does Something Useful: Such as lend computing power; provides a unique platform for business; increases public acceptance and confidence, has uses in a particular industry such as online action/strategy games, adult, gaming; acts in a more anonymous fashion or acts in a fashion that is compliant with AML, KYC and the like; is a collectible item, targets a particular market or markets, has a unique identity.
3. It Works: It works better than predecessor coins, it works quickly, efficiently, cleanly, securely and is highly resistant to hacking.
4. It has POS Staking/Inflation Balance or Effective POW Mining Access: If inflation is too high for a coin, it becomes untenable in the long term. If it is too difficult or unrewarding to mine, and/or hold, then users lose interest.
5. It has Several Sophisticated Developers: Ethical programmers and business persons, who remain involved with the coin for an extended period of time.
6. It has an Active Community: Investors who support, invest in and believe in the coin as viable and other interested persons.
7. It has General Utility: It gains public acceptance and is used and accepted increasingly for various value transactions.
George D. Greenberg, Esq.
www.attorneybitcoin.com 
