Yeah, the alternative is called proof of stake. Now please explain to me how "having a lot of money means you get more control and more money in the future" as a system is in any way adhering to the promise that crypto will disrupt the existing oligopolies and bring power back to the people (unless you define "the people" as "other billionaires who missed out on being part of the current tech oligopolies and want to be Caliph in the place of the Caliph).
It does. What's your point? The only difference is proof-of-work measures it more indirectly by letting rich people compete in how fast they can burn cash rather than just flaunting what they have. Both are bad.
