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So there are two different places that a coup against bitcoin could occur? Processing and Software. With something like 45% of processing controlled by entitie
by daveguy 1y ago
So there are two different places that a coup against bitcoin could occur? Processing and Software.
With something like 45% of processing controlled by entities in Iran, China, and Russia, it seems like an absolute fools game to put any significant wealth in Bitcoin. All it would take is a significantly effective worm to destroy bitcoin. But hypers gonna hype.
You couldn't pay me to hold a Bitcoin.
- DaSHacka 1y ago> All it would take is a significantly effective worm to destroy bitcoin. But hypers gonna hype. As opposed to any other modern financial system with significant liquidity in digital assets? I fail to see how substantial private ownership distributed amongst those countries makes it significantly vulnerable.
- mathiaspoint 1y agoIt's the same as any currency. If the place you want to spend it only accepts currency y then you must trade for currency y to spend money there. Since Bitcoin is software anyone can fork it and create a currency y with the same ledger up to the fork but few people do because convincing other people to trade for it without a very strong argument is hard.
- drexlspivey 1y agoWhat do you think "Iran" can do if they controlled 51% of processing power?
- deleted 1y ago[deleted]
- daveguy 1y agoDouble spend any bitcoins in their possession? Or just announce and prove that they are doing it, thereby causing a run on bitcoin and all the other bozobucks.