Why does everyone assume the end state of a successful cryptocurrency is replacing all other currency? This won't even replace bitcoin, let alone the dollar.

Well obviously not if the founders are taking a 10% cut right off the top.

Because the second most important thing that to a currency is network effects. If it doesn't 100% replace my credit card, I still need a credit card, which so far works MUCH better for me than Bitcoin.

Embarrassing that they can announce that without a hint of shame. Despite that, I'm betting they'll still find people looking to get in on the pump and dump