What is the future of cryptocurrencies?

The future of cryptocurrencies could be a step into the mainstream, according to the Wall Street Journal. The City of London is likely to continue to support traditional currencies, which it has a vested interest in. The process will be slow at first, but it is inevitable. Here are some quotes from influential people on what the future holds for cryptocurrencies.

Bill Gates, Microsoft co-founder, investor and developer:

“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be in the same place, and of course, for large transactions, currency can become inconvenient.”

Richard Branson, founder of Virgin Galactic and over 400 other companies:

“Well, I think it works. There may be other currencies like it that may be better. But, there is a big industry around Bitcoin. - People have made fortunes on Bitcoin, and some have lost money. It is volatile, but people make money on volatility as well.”

Al Gore, former US vice president:

“When bitcoin is converted from a currency to cash, that interface has to be subject to some regulatory safeguards. I think the fact that there is an algorithm in the world of bitcoin that replaces the function of government, that’s actually pretty cool.”

Eric Schmidt, CEO of Google: Bitcoin is an achievement. $BTC