Subnostr

Yes, I don’t worry about the government destroying Bitcoin, and price would not be a concern to a government that prints their own monopoly money. The investment is real to the richest of people, but the government doesn’t have to worry about cost.

Mix this with Jason’s idea that mining rigs are a “weapon of mass mutual destruction”, and it could very well become a war-crime for individuals to mine Bitcoin.

GHOST 2y ago

I don’t know who Jason is, but that is the dumbest thing I’ve ever heard. Hypotheticals are one thing but we have real data. China banned bitcoin mining and over night hash power disappeared from China. 6 months later it all came back. Some rigs started back up in china and others crossed the border and started back up. Now they are opening up to crypto again in Hong Kong. You can’t stop it, like grabbing shadows.

Also the government still has to worry about cost it’s just the scale is vast. Energy is a real thing that can’t just be printed. Still has to be produced, turbines have to turn, and it has limits.

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Discussion

BTCapsule 🏴 2y ago

Oh, I don’t mean the government bans Bitcoin mining. I mean they ban private individuals from mining Bitcoin so that they control it for “national security”.

Jason works for the military and believes Bitcoin is a weapon.

Here is an interview with Robert Breedlove and Adam Back. I love this interview, but had to listen to it a few times to figure out what Jason was actually saying.

https://m.youtube.com/watch?v=37w4vxeYL8U

GHOST 2y ago

I mean they could try and I’m sure it would cut down on it but people would still mine in secret from home. My point about china is they banned it but we still have hash power coming out of china. The CCP makes it their mission to know what their people are doing and if they can’t stop it then no other government will be able to either.

I’ll check out the interview

Des Imoto マキシ 2y ago

Jason makes a simple thing complicated. He‘s right that a Bitcoin standard will make physical war of nation states too expensive. He’s also right that the nation state that holds the most bitcoin will initially be the most powerful. And tauschte us should be first. If you’re into nation states. But he misses the point that by being first, they’ll hyperbitcoinize, and thus their power unravels. He also portrays Bitcoin as a securely protocol first. When it really is money first (MoE, SoV and UoA). Secured by the most powerful neural network known to man.

BTCapsule 🏴 2y ago

Yeah nation states are not my thing at all. I do agree that a Bitcoin standard for the US would be much better than a fiat standard, but I don’t see them getting rid of fiat. Mixing the two is where I get concerned.

What I would like to see is the people replace fiat with Bitcoin themselves. I hate this misconception that money can only be determined by government decree.