So that's basically an appeal to authority. If 90% of all startups fail, that means VCs like those you listed are only right 10% of the time. There are many o

So that's basically an appeal to authority. If 90% of all startups fail, that means VCs like those you listed are only right 10% of the time. There are many objective reasons to take the other side of the bet: Bitcoin will not succeed as a mainstream payment processing system because: * The fees are unpredictable and average tx fees have been as high as $55 in the past, during it's most popular time. * Apropos to the above, Bitcoin doesn't scale and it is clear there is no effective governance method in order to mitigate the problem. Cf. block size wars. * The risk to the consumer is higher as there is no included fraud protection or chargebacks allowed. * The difficulty of use is higher for the consumer, who now has to deal with purchasing fees and speculative volatility. * It is accepted at an extremely low amount of vendors and even that is falling. * Loss of private key, or password, or security exploit can lead to total loss of funds. Blockchains will not succeed as a mainstream technological solution because: * The use cases where you actually need a public, proof of work mined chain are actually very niche outside of cryptocurrencies themselves. * Even if you have a use case that fits, you must reach a critical mass of mining hash rate or you open yourself to trivially exploitable 51% attacks. * Corporations will still want to have permission based access, but if you have trusted users then you don't need a blockchain. * Even if you go with a private blockchain anyway, the scalability isn't there, it is harder to use, the tooling is worse, the technology is less mature, and the upside for the increased difficulty and cost is marginal.