Confiscation is, as you've identified, fruitless. Only governments without level-headed leaders will try. Global regulation remains a risk for cryptocoins. I

Confiscation is, as you've identified, fruitless. Only governments without level-headed leaders will try. Global regulation remains a risk for cryptocoins. If the only remaining utility is the black/grey market, cryptocoins become much less valuable and will end up losing a lot of interest.