RATE Group | Bitcoin’s System is The Only Way to Build Cryptocurrency: Investment Firm Exec
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Bitcoin’s System is The Only Way to Build Cryptocurrency: Investment Firm Exec

31 Jan Bitcoin’s System is The Only Way to Build Cryptocurrency: Investment Firm Exec

Posted at 18:08h in Cryptocurrency News by

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Founder of Morgan Creek Capital, Mark Yusko, believes Bitcoin’s Proof of Work (PoW) consensus is the only viable protocol on which to build a digital asset. In an interview, he discussed why the coin is a “beautiful use case of blockchain,” and why 99% of other coins will eventually go to zero.

Proof of Work Only Viable Consensus

Mark Yusko – a longtime Bitcoin bull – sung Bitcoin’s praises on the latest episode of RT’s Keiser Report, calling the coin a “beautiful use case” of blockchain.

He outlined how the leading cryptocurrency, with its Proof of Work (PoW) consensus, is one of about a dozen coins with real world value and application.

Bitcoin aside, Yusko name-dropped Ethereum, Dash, and Monero. Other coins, he said, don’t fit into the same category.

While Bitcoin is tried and tested, the majority of the rest are what he calls “crowdsourced venture capital, pre-seed and seed stage deals” with technology that may not work. 99% of these, Yusko said, may go to…

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