jfeldis on Nostr: The state sponsored blob will support these projects. The biggest risk to Bitcoin is ...
The state sponsored blob will support these projects.
The biggest risk to Bitcoin is if they can pull miner/pool incentives toward anything other than the Bitcoin token itself. Real world assets or financial assets on the Bitcoin chain that earn revenue for miners will give regulators a hook.
Miners will support forks that protect their revenue stream - if that stream has "bonus" revenue (merge mining) from other assets such as stable coins, they will care less about the decentralized and uncensorable benefits of BTC.
Ordinals as jpegs are not a threat, but tokens for regulatable assets are.
The biggest risk to Bitcoin is if they can pull miner/pool incentives toward anything other than the Bitcoin token itself. Real world assets or financial assets on the Bitcoin chain that earn revenue for miners will give regulators a hook.
Miners will support forks that protect their revenue stream - if that stream has "bonus" revenue (merge mining) from other assets such as stable coins, they will care less about the decentralized and uncensorable benefits of BTC.
Ordinals as jpegs are not a threat, but tokens for regulatable assets are.