The next phase begins when 'regular' people are engaging in at least occasional direct exchanges of currency using private wallets to purchase goods/services. That would highlight the technical issues with Bitcoin, but even then I suspect Bitcoin will remain the top dog as a store of value and we'll collectively choose a runner up for rapid exchange/verification. It might not even be an independent coin itself, but a strap-on tech that helps protect against double spend, even if with a sub-100% accuracy in exchange for speed. The idea there being that it would primarily be used to mostly validate small-value transactions, with an inherently reduced double spend incentive, whereas big value transactions could go through the main coin.