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The solution is to build open standards and networks resilient to all threat models. Monero is not resilient to nation-state level scrutiny, whereas Bitcoin is - and I can point to this simply because Chinese state authorities (including at the time, Vice-Premier Liu He) tried banning Bitcoin left and right but probably has no idea what Monero is.

Nostr hosts a lot of Chinese cypherpunks. None of them ever really post about Monero.

Saberhagen The Nameless 1y ago

It's not possible to be resilient to all threat models.

I don't even think China banned Bitcoin mining. They banned mining Bitcoin using the electric grid/fossil fuels iirc and only in a particular region.

Only a few manufacturers make most of Bitcoin newest most powerful ASICs and they are all from China. How is that not vulnerable to state attack?

-Over half Bitcoins hashpower is KYC

-It's obvious what you're doing with that ASIC

-Open to targeted mining censorship

Also, these give off a very obvious fingerprint (energy draw, heat, noise)

"Police raid a concealed #Bitcoin mining operation, initially mistaking it for an illegal marijuana farm due to the heat signature"

https://twitter.com/BitcoinNewsCom/status/1721359382745874489

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Discussion

Roger H 1y ago

China's State Council (under Liu He) pronounced Bitcoin mining as undesired, and the provinces started banning and kicking out Bitcoin miners. However, ever since then, people sell miners in Mainland and etc.