bitbuybyte on Nostr: This post demonstrates a clear misunderstanding of Bitcoin consensus imo. The block ...
This post demonstrates a clear misunderstanding of Bitcoin consensus imo. The block wars of 2017 and node consensus demonstrates that large scale ownership of bitcoin does it necessarily equate to control of the network.
If government had bought 12 million bitcoin in 2013, that would have been the surest way to corrupt the network/damage its utility though. They didn’t. Game over.
The same scenario above applies today, but they cannot execute on that strategy. It doesn’t mean Bitcoiners should advocate for it though, even on a smaller scale (IE governments buying 1-4 million Bitcoin) That is technically possible, but difficult.
If government had bought 12 million bitcoin in 2013, that would have been the surest way to corrupt the network/damage its utility though. They didn’t. Game over.
The same scenario above applies today, but they cannot execute on that strategy. It doesn’t mean Bitcoiners should advocate for it though, even on a smaller scale (IE governments buying 1-4 million Bitcoin) That is technically possible, but difficult.