Quote
"Silicon Valley Venture Capital Godfather" Tim Draper (Tim Draper) believes that people will turn to high-quality and decentralized cryptocurrencies such as Bitcoin, and some weaker cryptocurrencies will become historical relics.
Hmm,
just goes to show , no matter how much fiat money you have, you can still say stupid stuff.
BTC is so centralized , only 3 mining pools control over 51% of the hashrate.
BTC Proof of Waste needs so much VC money to float the miners thru the years when PoW mining is unprofitable.
No other algo design needs such insane amount of VC money , because no other algo wastes so much energy.
VC money is drying up, and energy costs are skyrocketing across the globe to the point of multiple blackouts in multiple counties.
Thinking a coin that wastes the energy of multiple countries will fare well in the coming environment, show a lack of understanding, that is delusional.
Also as far as Quality, BTC is unable to even increase it's onchain transaction capacity past ~7 transactions per second,
while ethereum and others are heading toward 100000 onchain transactions per second.