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key technical indicators for success of cryptocurrency - is it usable: confirmation in under 5 second for real world in store payments - is it decentralized: proof of work is the key innovation in cryptocurrencies that enables mathemathical double spend protection. all proof of stake systems are centralized and not mathemathically strong. pos is a social trust model. ignore the noise: - smart contracts do not have real world use cases. smart contracts are simply financial computer programs, which for some unknown reason run on chain. they enable yield systems that do no produce anything, but only move abstract monetary units based on logical conditions. real world use of cryptocurrencies is to replace existing payment systems: visa and swift.