David Rosenthal: belief

Transcript context

…In particular versus other cryptocurrencies. Ethereum is the only one that stands a chance, and it just kind of has a different use case that's really more around the smart contracts and compute that’s built into it. For sure, you can't start anything that looks like Bitcoin now and have any chance of beating it. In the same way that Facebook just outran any other consumer social network, consumer social entertainment type app, and then obviously very smart in acquiring those who did get scale. Bitcoin just leaped ahead at the beginning of this paradigm. I think what's cool is it even applies at the technical level too with this idea of the amount of computing power that has gone into maintaining and making robust the Bitcoin network over time is itself a compounding asset. The more power that goes in overtime, the harder it is to crack. There is no supercomputer that could conceivably ever be created that is going to—as long as the bitcoin economy like a miner keeps working, that is going to be able to go back and redo everything, and that lead just keeps getting wider and wider. Certainly not really old things end up in the Blockchain, but there's always the risk on the newer ones. Things that are only two or three blocks behind, unless there's a paradigm change. Unless quantum computing arrives and suddenly you have 10 million times more compute than we did in the past on a single core or something like that.…

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