Now that we know the mode of attack on cryptocurrencies, what would be government’s way of attacking bitcoin?
Discussion
Could ISPs get involved?
The China strategy!! We need better education amongst the masses, people are spoilt for better ux, we need to teach them to be sovereign. And improve our user experience at the same time. Maybe nostr clients with inbuilt VPNs?
to dominate the market with their own
Tbh I wouldn’t mind this approach, let it play out in the markets, bitcoin has always been prepared for that.
Interesting question! 🧐 One possibility could be regulation or bans, but the nature of #Bitcoin is resistant to such attacks. The key lies in education and spreading knowledge! 💡 #BTCUnstoppable 💪🚀💰
💯 everyone should study bitcoin! And we need to create smoother on-ramps that are less reliant on centralized entities.
On and off ramps for sure. Making it illegal to transact or own would be far-fetched but not out of the realm of possibility. The ensuing court cases would give a long time for those with "portable" wealth to leave and get down south and many would as it's just been so stupid up here for so long that it feels like a lost cause much of the time.
Attacking transaction channels would be a huge waste of effort, honestly I’d love to see them try. We need better and more government resistant on ramps for sure
Killing the on ramps, which a lot of use prime trust. But I don’t think it’s possible to kill all the on ramps
How can we prepare for it? What are other on-ramp options other than exchanges?
Well strike just moved their custody in house so they don’t rely on anyone else. Idk which other exchanges use prime trust but I know it’s a good amount. But, at this point I think there’s too many places to buy bitcoin that it’d be near impossible to eliminate all the on ramps.
Adversarial country is using bitcoin - anyone who is using bitcoin is supporting said adversarial country - get the majority of the population to buy into the idea tht bictoiners are enemies of the state - blackball said enemies of the state - restrict their movement and stop their offspring from attaining positions of power - limit them to manual labour.
Just a thought off the top of my head 🤷♂️
Then individuals and families wouldn’t even have to be proven to be holding bitcoin - they would could be defined as enemies of the stay just for being suspected of holding bitcoin.
Think Eastern European internment (work) camps in Canada during ww2 and Japanese internment camps during ww2.
Someone could definitely do it, however I think this would just become an advertisement for bitcoin for the rest of the world.
But if you can’t leave and are stuck in your country, then it wouldn’t matter. Restriction of mobility rights would be the key here: COVID demonstrates again how this could happen if the majority of people were to believe it.
Dystopian, yes, excessive, yes. I still don’t think this strategy is successful in stopping bitcoin though, on the contrary might accelerate it for everyone else. Even for people in their own country.
If the west was in a hot war with China and Russia and they started to openly mine and hold it on their balance sheets, what would the western politicians say about bitcoin? What would Frank and Susie next door think about bitcoin and the people who support it? The truth at this point wouldn’t matter. I still believe the majority of people would believe the story told to them.
The US would turn to shit, the rest of the world turn to a bitcoin standard 🤷♂️
The rest of the world would align with Russia and China?
Spitballing here 😂 miss your questions!
If Russia and China are on an open standard, yes, I wouldn’t say they are aligning with them, just joining the free market (ironic).
I predict however there’d be a third front with countries like El Salvador, that are completely distant from all these global players.
Big players would still want to consolidate.
Psyops, they can definitely try, but I think they might be too late for this, if they wanted to do this it would’ve been better to do it 5 years ago. But Ofcourse they were in the “then they laugh at you” phase then.
I think the majority of people, who do not hold bitcoin, would turn on bitcoiners in a second if they were told to do so. Look at COVID. Look at internment camps for both world wars, which were not that long ago.
As Pat said, killing the on and off ramps, and threatening banks so that they won’t serve Bitcoin companies.
How do you think that turns out? Does that attack have a chance of succeeding?
Patriotism. It’ll come eventually, which is why we need to grow bitcoin understanding so people will just laugh when they do.
Specifically: making an argument that bitcoin is bad for fiat money, and that is bad for the government, which is bad for the people because they should love the government.