MAHDOOD on Nostr: Transactions cancel after about 2 weeks. You can also increase your fee while it is ...

Transactions cancel after about 2 weeks. You can also increase your fee while it is in the mempool using RBF which incentivizes more people to mine it. If all your sats were doxxed and you were being censored, it would be bad. But I don't think they would go to the miners to censor you if they knew where you lived. They could just come arrest you. Now if you are saying they will censor all non kyc sats, that is extremely difficult to accomplish. It's hard to even know what sats belong to who. How many sats are non kyc? Can you force all miners around the world to kyc all new mined sats? Also, people buy kyc sats and then send them in as donations or use them to buy things from other people. And with payjoin, it gets more difficult to track. All this does is add a lot of friction for US miners which other businesses or countries can take advantage of. Do you think America, China, and Russia will come together and agree to censor each other? We already sanctioned Russia so that clearly shows that they can't agree on everything. If the government in the US even hinted that they were going to subsidize bitcoin mining, they would open the floodgates to new bitcoin adoption. What would that do to the confidence of bond holders and the value of the dollar? Other countries would get in bitcoin and try to mine as well. It would pump the price, making mining more profitable, and add new miners to the network from different countries.

This is all very convoluted and we are just speculating about an unknown future. My belief is that the incentive to mine bitcoin is strong enough to overcome censorship. But I admit that remains to be seen. I'd like to see mining pools get more decentralized. I wish bitcoin had more privacy by default but you cant know for certain that there are only 21 million bitcoin if the blockchain isn't transparent. So pseudonymity seemed like a reasonable tradeoff.