Bootstrapping a new proof-of-work currency, after the biggest one has failed, may simply be impossible. Small PoW currencies are very susceptible to 51% attacks. So if Bitcoin ever fails we may find that the bad actors of the world use force to prevent a replacement from ever having a chance.
We've probably got one shot at creating a decentralized currency for the world.
It failing. For any reason.
Bootstrapping a new proof-of-work currency, after the biggest one has failed, may simply be impossible. Small PoW currencies are very susceptible to 51% attacks. So if Bitcoin ever fails we may find that the bad actors of the world use force to prevent a replacement from ever having a chance.
We've probably got one shot at creating a decentralized currency for the world.