> Bitcoin exists because there is no alternative decentralised, self sovereign currency.

I do question whether we need one. We choose our governments to create laws protecting our values. I do agree that they are pretty far from perfect, but I don’t see why should we circumvent said laws. If I got a failed product, how will I get it replaced, when the seller could have disappeared? Yeah, there are smart contracts, but it’s not like our entire financial system was made up on the spot. It has many many warts, but it does solve real world problems.

> PoW exists because there is no other method to achieve that.

And as others mentioned in the thread, there are cryptos not dependent on PoW