The founder of the digital asset exchange FTX, Sam Bankman Fried believes that bitcoin does not have a future. As a payment network for daily use, its inefficiency and high energy usage make it useless. To become an effective means of payment for everyday use, bitcoin would need to perform millions of transactions. Bankman Fried believes that the proof of work system does not have the means to support the millions of transactions that would be needed. In Bankman’s words, “The bitcoin network is not a payments network, and it is not a scaling network.”
Does Bitcoin Have a Future?