I never mentioned luck. Although luck was part of it--like 10%--still technology was innovative and hit the sweet spot. So yes, it didn't succeed due to luck.

I never mentioned luck. Although luck was part of it--like 10%--still technology was innovative and hit the sweet spot. So yes, it didn't succeed due to luck. Like I said, I am not saying it's impossible. I just think VC-driven approach is not a good idea. Actually, I think the final technology that will succeed--be it Bitcoin or its alternative--will not have raised any money from VCs. I went to several Bitcoin meetups and noticed how a lot of people are talking about "compliance", which is important, but I don't think the true success will come from any entity that's restricted by all these social boundaries and the need to make money.