Interesting. How do you see alternatives to Proof of Work such as Proof of Stake and dBFT fitting in to this framework? They enable a unique token to be created with consensus and without requiring (much) burning of electricity.
Cheers,
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The analogy I’ve applied is that bitcoin is and will remain as the global power transmission line for all other public blockchains.
Others may derive power to and from bitcoin, particularly ones that become onramps and off ramps for traditional asset conversion, but bitcoin has first mover advantage on the sha256 infrastructure and I don’t see that being supplanted in the near future.