Volatility and hordes of bubble-chasing speculative investors are not Bitcoin’s only problem, there are technical shortcomings as well.
Eli is actually an optimist about the potential for cryptocurrencies. However, he argues that when you look at all the important features for a cryptocurrency, Bitcoin is either dominated by Ethereum or soon will be.
One issue is transaction fees, which are significantly lower for Ethereum.
Another issue Eli says favors Ethereum is governance quality. The leadership, developers, and community matter a lot for a cryptocurrency… While source code and technical parameters can be copied, and network effects can change, governance institutions can’t simply be copied
Eulogy made by Eli Dourado