Nice theory... Here's mine. We know that BTC has become a 'stone in the bankers' shoe', meaning it has become too disruptive, annoying and unpredictable. We also know that they are the 'masters of the universe', meaning they have the political power, the money and everything else they need to take something down if they truly wanted it to happen.
And based on what you said about the costs of mining, what you see as strength, I see an attack vector. What if all the world's bankers are starting to work together to crash BTC and keep the price down long enough to bankrupt the miners out of business and discourage anyone from mining it again?
I think this is where the CPU and GPU mined coins will find its strength. *cough* Monero *cough*
Bitcoin is annoying and disruptive.... It's a disruptor, redefining economics making bankers scared since they cannot influence it.
If bankers are the master of the universe why is the Dow Jones down the rabbit hole at the moment?
Let's say they want to stop Bitcoin mining with all their political power they would need to
- Ban hardware (GPU/CPU/ASICs/Transistors)
- Ban internet
Further more they would need to do a global attack on Bitcoin, since any country banning Bitcoin would make citizens move elsewhere where they are welcomed.
I don't see all the worlds bankers working together .... hey a purple unicorn
PS: I also have Monero ;-)
Show Posts
