Botcoin value is dependent on and pumped by exchanges. In case of larger sale run they will cease to payout with cash or other cryptocurrencies because they are

Botcoin value is dependent on and pumped by exchanges. In case of larger sale run they will cease to payout with cash or other cryptocurrencies because they are out of money to cover most payouts. I think at most 1% is available in US$ cash -- the rest is gone in tax heavens. There is no law control over these entities and their financial fitness. So as the value is going to collapse and with low value the cost of transactions will explode to an extent that exhanging is going to stale and mining will become worthless. I agree the block-chain and smart contract technology is interesting, but this pioneer execution is simply a Ponzi scheme. Newcomers are funding payouts and nobody asks where the real cash goes. Scared merchants can pull a "cryptocurrency payment" plug overnight, and there is no goverment to call bailout to save this financial system. This will be epic bail-in.