@StefanF Great post, mate. Like many other network industries, this will eventually converge to just a few very large players due to the impact of network effects on scale economies and hence long run average costs. Whether APT is one of the survivors is the big unknown at this stage, but what is absolutely certain is that its "success" to date WILL attract a lot more competition, most of which we haven't even seen yet. To think otherwise is to ignore reality.