Until the issue of instability is dealt with, I don’t see cryptos being used for anything other than a vehicle of speculation and pump and dumps. Institutions and normal people generally don’t want their assets to oscillate in price 5-15% daily.
I believe Bitcoin specifically is 100% dead in the water long term, and i will explain why in the next part.
Bitcoin can’t ever go mainstream in its use, and December 2017 was a perfect example of why. When the world FOMO’d into cryptos during the last bullrun, the scaling flaws of many prominent cryptos were highlighted. Bitcoin itself had something like a two week transaction time with an optional $40 fee if you wanted to skip the queue. That kind of glaring issue makes bitcoin completely worthless as something you could use down at your local shops. A few other cryptos had this exact same problem when they were pumping hard (personally had issues with eth and xrp, but I’m sure its not limited to them), but they weren’t as severe.
A sane community would simply admit bitcoins faults and focus on superior projects that can handle these issues better, but no, they cling to Bitcoin like a cult and try to keep it on life support with shoddy projects like the lightning network. It’s the oldest and most archaic coin on the market, and yet people refuse to drop something that will only hurt crypto as a whole in the long run.
Hashgraph seems to have solved the scaling issue, but it’s a question of when/if it will ever be released. If it does though, it will likely become the Google to the crypto markets Netscape Navigator
I read a report about halfway through the year that showed that over 90% of the mined btc were in the hands of a few people. That should be expected though, considering most types of wealth are usually concentrated in the hands of the few