> Most of it has been and is locked up, not touching other aspects of the global economy, and most of the actual bubble value will vaporize without ever touching any part of the 'real' global economy.

I think the question is how much actual currency will be borrowed against cryptocoin valuations, and how much and over how many generations will people manage to leverage that credit, before that value vaporizes. Derivatives will always be the problem. With the actual economy not producing returns (over 1 or 2%), cryptocurrency may distribute the paper value that investors demand throughout the economy without 99% of people and funds being able to find a mention of any cryptocurrency in their own portfolios.

What is the state of cryptocoin derivatives anyway? Are they being synthetically collateralized? Are they part of any major consumer fund mix?