As all non-mining nodes including the ones belonging to all the exchanges, miners' deposit to exchanges won't get confirmed unless those exchanges are stupid enough to trust others' nodes.

Then what do miners pay for the bill for electricity without fiat provided by exchanges?

Well, miners themselves are not too stupid to recognise the true bosses behind.
That's why Jihad Wu resigned from Bitmain and started Matrixport in July this year.

Then the creator of Bitcoin can't prove himself anymore.But this is trivial.

The bigger problem is those coins locked in p2pk addresses can never be sent to safer(QC resistent) addresses by their owner.

I'd say good.
I've seen quite a few people got rekt and a -90% profit due to greedy.

I always say no to this question.
Because I know that a person with strong hands would not ask others such question.

For short, whoever asks this question is not prepared.

Due to insufficient liquidity, most alts' marketcaps are just illusions.
It is not Bitcoin's dominance rising fast but alts' fake marketcaps being debunked.

Besides: I don't think Bitcoin's own liquidity is sufficient right now compared to other assets around the world.

Fresh news from twitter:
https://twitter.com/newwhaleorder/status/1161735619472764929

Why do you guys think Hongkong govt is controlled by sockpuppets of PRoC?

If so, things like this should never happen.
https://en.wikipedia.org/wiki/Causeway_Bay_Books_disappearances
The PRoC leaders should have just made a phone call to their sockpuppets and ask fer an legal arrest other than sending agents to kidnap and doing the rest of stupid things.

Anyway, after protests losing control, it is likely the Hongkong govt would seek support from PRoC at the price of being true sockpuppet of PRoC.

Bah, this world is so ridiculous that people's endeavor and good wishes often drive things to the opposite direction.

This reminds me of 1989 protests in China which lost control in the end and dealt severe blows to the reforming faction within commie party. The representative figure of the faction Zhao Ziyang was removed as a result.
https://en.wikipedia.org/wiki/Zhao_Ziyang

Altcoins may not have enough liquidity for illegal use in large scale.

Maybe OP is right. It is against the law.
But who sued Roosevelt for banning gold in US and won?

It shouldn't be the laws which make bitcoin not be banned.

Yet.
Only when govt screw its citizens harder such as confiscating other type store of value, will common people recognise the superiority of bitcoin as a store of value.

The problem of this solution to $5 wrench attack is that it is public, any robber could have read and known that.

IMO, hardware wallet could act as baits. One can simply put two or three shares of coins in a hardware wallet both in dummy wallet and hidden vault(or even plus dummy hidden vault for third share) while put the majority of his coins the rest part elsewhere.

The value of bitcoin is the first permissionless transaction and ledger system in modern world. This is my answer.
I have pointed out price is not value.And I never said price in the first place.
So don't ask me how to estimate the price of one bitcoin.

BTW: To me altcoins have no value though someone would buy them at some price.

How naive!
Your enemy's enemy may not be your friend.
It can be just even worse!

If there wasn't a consensus then how could you use bitcoin as a store of value?
Besides, why do some guys not saying bitcoin a store of price if value just equals price then?

You have never been told bitcoin is money itself so basically 1BTC is always 1BTC, haven't you?
Regardless, I know you said money meanning fiat. Then how do you acknowledge the price of 1BTC in some certain fiat?
I guess from exchanges right? Unfortunately, the price showed in exchanges are actually of BTC IOUs issued by exchanges.
That's simple because when you click buy button, no bitcoin is sent to your wallet at all.


Really? In Feb 2017, goverment barred customers from withdrawing bitcoin in exchanges in China.
Guess you are sure that won't happen in US in the future because US has a good record not confusticating store of value from its cizens right?

Then have CZ or Brian Armstrong shown the signature of Binance or Coinbase's reserve addresses to you?
How do you know that their IOUs are 100% backed.

Or you were just trying to make people believe that paper BTC in exchanges is equal to on chain BTC?
(Oh, it seems that there is no need for govt to attack in the first place. You guys have surrendered.)

I think that's no enough.
The mass adoption may not be a good sign at all if community are unable to educate new bitcoiners what true bitcoin is distinguish it from the IOU issues by exchanges at the same pace.

BTW: I failed on my aunt making me frustrated.

I said no price at all.
Value does not equal to price. Back to the time when Satoshi created bitcoin, it has no price at all but definately has some value. Otherwise Satoshi and Hal wouldn't devote any time to it.


I doubt exchanges have already increased the supply.


That's what I concern exactly as I have no faith.
Mtgox disaster should have never happened if they deserved such faith.

Recently my aunt just gave me 100,000 bucks to buy bitcoin for her.
She is willing to give such amount of money to me while too lazy to listen to my muttering about private keys,seeds,backup,signitures and the importance of self-sovereign.

She simply told me to keep the coins for her and she would pay me some mantaining fees.

Quite an easy target for Coinbase marketing right?

The future issue I concern is that people won't use on chain bitcoin dispite what bitcoin actually is as you claim(Remember this consensus is never about truth or fact). Those who can't play computers well will just ask what would happen if they messed up their wallets storing seeds or keys while losing the backup in the same time. Should we reply them that then your coins are just gone for good? How about Coinbase jumping in and telling them to store their coins in their so-called custodial wallets in order to get rid of the fear to lose the store of value. And they can even buy insurance in case the coins were stolen. What would an average Joe choose you guess?

I just made bold of some words in your quote. I want to point out that these words may not fit for an average Joe.

I think some Yang's supporters pointed out before that UBI and some welfares are not compatible.One should do an 1of2 choice.

Huawei officially declared it is open source.
But where is the code?
Guess Huawei just want to redefine open source itself?