And that right there is probably why Bitcoin is going to persist. They can't afford to become poor themselves easily. So it was never about the technology and all about keeping an entrenched position at all costs.

Things could be different this time around. Polkadot and Cardano are leading the way in PoS and Ethereum might conservatively copy the parts that work. But they could turn out to be just like NavCoin and PIVX after a few years — much lower on the marketcap chart. I don’t know what the winner will be in the future but I do know quite a lot of the past.