I think about this sometimes. Suppose in the extreme case we end up with “western bitcoin” and “eastern bitcoin” where each fork censors some set of transactions.

Today there are so many people with bitcoin around the world so each fork would have funds belonging to both sides of the globe. The incentives to spend on either chain go up over time and hashrate would be incentivized to oscillate between the two which is unstable.

The rift shouldn’t last long unless we end up with a single global government capable of enforcing rules on hashrate. How long could it last though if it did happen? Time will tell.

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