Bitcoin faces risk of protocol-level censorship as miners under increasing regul

[shield132]

1) Even if it does happen, it wont be Bitcoin, so it wont matter.
A fork of Bitcoin is not Bitcoin.
Bitcoin works no matter what the price, and even a large drop in hash rate has no real effect on that - as expected, and as we saw, when china shutdown mining.

I can't agree with you because it matters. If the majority of miners and nodes support a new Bitcoin fork, then that Bitcoin fork will become a standard Bitcoin. That new Bitcoin fork will be supported, adopted and the most traded. Old Bitcoin fork, the ones that we use now, will not be supported and it will become dead compared to some altcoins and supported fork.

3) It's the current us gov't that's trying to damage Bitcoin, not sure why anyone in Bitcoin would want to keep them in power lol

Those who are into Bitcoin because of the US gov or are supported by US gov, will benefit from damaging Bitcoin.

[1715090188]

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[takuma sato]

A few simple points:

1) Even if it does happen, it wont be Bitcoin, so it wont matter.
A fork of Bitcoin is not Bitcoin.
Bitcoin works no matter what the price, and even a large drop in hash rate has no real effect on that - as expected, and as we saw, when china shutdown mining.

2) The magic 51% number rears it's head yet again
Pools mining against lower points in the active chain will be obvious.
So it would become immediately clear what pools not to mine on.
Excluding higher paying transactions means less mining reward in your block.
Excluding the lowest paying transactions, when block space is at a premium, is how Bitcoin works.
Messing with that means less bitcoin reward for mining.
(Which is what StratumV2 is trying to make happen - stay away from V2 - they're probably backed by the gov't since they are helping to do this)

3) It's the current us gov't that's trying to damage Bitcoin, not sure why anyone in Bitcoin would want to keep them in power lol

Im not into politics but it evident now that whoever is from the US and supports bitcoin while voting for Biden has some sort of massive cognitive dissonance of Stockholm syndrome going on, otherwise I don't get it. This people have a clear agenda to tie Bitcoin and crypto as something that funds terrorism and "white supremacy" while forgetting about how everyone that lives in countries where inflation is making everyone poor uses BTC to survive. They don't care, they are mad that people got rich from getting in early and they didn't, so now they want to ban it.

If anyone wants BTC to survive at a mainstream level, then pro-Bitcoin lobbying is non negotiable. We need people supporting BTC and miners at the political level, otherwise we are going to see Biden, Warren, AOC and co make Bitcoin unusable for US citizens and miners kicked out of the country, again, at a mainstream level. Obviously BTC will survive no matter what, but if we want huge valuations, we need institutional support. The ETFs are a good step in this direction, but don't forget that the ETFs can be used against self-sovereign BTC users that do self-custody, since they can concentrate the funds there then ban BTC from the hands of individuals. Stay alert because that is coming. It just happened in the EU.

[philipma1957]

A few simple points:

1) Even if it does happen, it wont be Bitcoin, so it wont matter.
A fork of Bitcoin is not Bitcoin.
Bitcoin works no matter what the price, and even a large drop in hash rate has no real effect on that - as expected, and as we saw, when china shutdown mining.

2) The magic 51% number rears it's head yet again
Pools mining against lower points in the active chain will be obvious.
So it would become immediately clear what pools not to mine on.
Excluding higher paying transactions means less mining reward in your block.
Excluding the lowest paying transactions, when block space is at a premium, is how Bitcoin works.
Messing with that means less bitcoin reward for mining.
(Which is what StratumV2 is trying to make happen - stay away from V2 - they're probably backed by the gov't since they are helping to do this)

3) It's the current us gov't that's trying to damage Bitcoin, not sure why anyone in Bitcoin would want to keep them in power lol

Im not into politics but it evident now that whoever is from the US and supports bitcoin while voting for Biden has some sort of massive cognitive dissonance of Stockholm syndrome going on, otherwise I don't get it. This people have a clear agenda to tie Bitcoin and crypto as something that funds terrorism and "white supremacy" while forgetting about how everyone that lives in countries where inflation is making everyone poor uses BTC to survive. They don't care, they are mad that people got rich from getting in early and they didn't, so now they want to ban it.

If anyone wants BTC to survive at a mainstream level, then pro-Bitcoin lobbying is non negotiable. We need people supporting BTC and miners at the political level, otherwise we are going to see Biden, Warren, AOC and co make Bitcoin unusable for US citizens and miners kicked out of the country, again, at a mainstream level. Obviously BTC will survive no matter what, but if we want huge valuations, we need institutional support. The ETFs are a good step in this direction, but don't forget that the ETFs can be used against self-sovereign BTC users that do self-custody, since they can concentrate the funds there then ban BTC from the hands of individuals. Stay alert because that is coming. It just happened in the EU.

Trump is anti bitcoin bigly.

While you rip biden and bitcoin all ath were done during his administration.


personally I wish that the two of them would stroke out tonight and not run at all.

they are 158 years old between them. a mother fucking joke

[larry_vw_1955]

Trump is anti bitcoin bigly.

how do you figure that?

While you rip biden and bitcoin all ath were done during his administration.

that wasn't intentional. the biden administration has tried to put more controls on bitcoin than any government in any country in history i would guess. the ath is because of INFLATION of the us dollar becoming more worthless thanks to biden's bailing out student loans, supporting illegal immigrants, etc. just a side affect of a socialist regime...

personally I wish that the two of them would stroke out tonight and not run at all.

they are 158 years old between them. a mother fucking joke

i definitely agree biden does not belong running the us government. but who would you rather see in power? what person?

[philipma1957]

Trump is anti bitcoin bigly.

how do you figure that?

While you rip biden and bitcoin all ath were done during his administration.

that wasn't intentional. the biden administration has tried to put more controls on bitcoin than any government in any country in history i would guess. the ath is because of INFLATION of the us dollar becoming more worthless thanks to biden's bailing out student loans, supporting illegal immigrants, etc. just a side affect of a socialist regime...

personally I wish that the two of them would stroke out tonight and not run at all.

they are 158 years old between them. a mother fucking joke

i definitely agree biden does not belong running the us government. but who would you rather see in power? what person?

he ended like kind exchange policy which is just about as anti crypto as you can get.

I file two hundred page returns because he passed that law that only allows like kind exchanges for real estate. no other thing for that alone he should stroke out as I am typing this.

btw biden sucks for a long list of reasons but none of them touch the trump like kind law.


to edit this liz warren is far more anti btc then biden maybe she could stroke out too. as she is not very young.  edit she is 74.

still quite a bit older then me at 67.

I have never had the disgust of american politicians that I do  now.

[larry_vw_1955]

he ended like kind exchange policy which is just about as anti crypto as you can get.

so that's whose administration it happened under. that was about as harmful a thing you could do to the crypto ecosystem as anything. so i think i understand your issue. that's my main issue too is how they want to tax it even though you didn't cash it out. that was when holding crypto became alot less attractive to me. if you can't even do like exchanges WITHOUT REPORTING IT AND PAYING TAXES ON THE "EXCHANGE". Do i have to pay taxes when i exchange a $100 bill for 5 $20s ? I don't think so.  

I file two hundred page returns because he passed that law that only allows like kind exchanges for real estate. no other thing for that alone he should stroke out as I am typing this.

that's insane. i can't imagine people abiding by something that ridiculous. i bet alot of them just don't do it. period.

btw biden sucks for a long list of reasons but none of them touch the trump like kind law.

yeah i do agree. that like kind law was kind of the death blow to using crypto.

to edit this liz warren is far more anti btc then biden maybe she could stroke out too. as she is not very young.  edit she is 74.

still quite a bit older then me at 67.

I have never had the disgust of american politicians that I do  now.

me too. the only thing you can hope for is for these geezers to get put away into their nursing homes and some new young people who see things differently to revert the laws back to how they should be. but that's another thing that sucks about the usa, is how they can't stop making new laws. you would think that every law that should be on the books already would be but that's not the case, they are constantly trying to make more and more laws on EVERYTHING. to make society more and more restrictive.

some laws i understand come about because of new technologies and thats not what i'm talking. it's like they think that by making more and more laws about issues that have existed since the dawn of man, they can make a perfect society. and the only solution is to make more laws.

next step will be trying to tax unrealized capital gains on crypto. that's when holding bitcoin will really become a pain the ass...