They don't have to coordinate.

Nations can have their own self-serving regulations and laws that choke out Bitcoin mining making it a great burden to do (economically and legally). They could also force all miners in their jurisdiction to censor certain transactions. As fee pressure rises on censored transactions you *might* be able to get other miners in a different country to mine it, but it's going to cost you a lot of money and confirmation time so it won't be an everyday thing that most people do.

If Bitcoin was private and anonymous you couldn't pick out and censor individual transactions because they all would look the same. Anyone attacking the network would be forced to indefinitely censor the *entire* network to stop a few transactions, which is much costlier and harder to do all things equal.

CPU mining is relatively easier to attack, but easier to spin up more CPUs to push back against an attack once it is in progress

ASIC mining is relatively harder to attack, but harder to spin up more ASICs to push back against an attack once it is in progress

The gentrification of Shanghai in real time.

comunist cpu setup? id call that serious decentralization. if i were US govt and wanted to keep you off bitcoin id ofac ban your address and ask allies like EU, etc to do so too. since most miners are big companies with huge investment in expensive hardware they will obey rather than risk being shut down. try that with monero where you have no idea who is mining because there is noajor power draw and the hardware is standard instead of specialized and you break the grip. not to mention they cant sanction a Monero tx anyway due to stealth addresses and RingCT. Found the btc maxi.

Monero would have just as cheap transactions as it does now even if it had Bitcoins usage. It has dynamic blocks. Fee pressure would come back down as blocks adjusted to accommodate more use.

Bitcoin can't do that because it has a fixed blocksize. More adoption = higher average fees that grow and don't come back down. Lightning doesn't scale. To onboard the world to LN you would need something like 130 megabyte blocks. You should look into a real solution like MimbleWimble that actually scales (and offers pretty strong privacy). Litecoin already did all the R&D.

Yea, miners in China could do that because regulations were lax and its still relatively early. We already see them moving to clamp down on all crypto in the west. The eventual outcome is that regulations will just increase in every country until there is nowhere to run. Miners will just pick what they think is the lesser devil, but overall it will still be worse than it is now.

What will you do when they outlaw self-custody? Or ban it from being used in their markets? (or make the regulatory burden so great it handicaps the use there)

All that is left is black and gray market money. A place where Bitcoin is rapidly losing ground and wont catch up unless something changes soon.

So now i have 2 mints in my #minibits wallet. I know the pros of it but what are the cons.

👀

That wont happen. Bitcoin cannot continue to rise forever. the halvings reduce miner profit every 4 years so only the biggest miners, who all do KYC btw, can survive. The fees are going nowhere but up over time which forces people to custodial layer 2 like lightning or learn how to open channels themselves which requires a high fee L1 transaction. People will flee to other coins with lower fees. People used to buy coffee and toothpaste with btc back in 2014-2015 and that is not feasable on L1 today. Custodial LN is nothing but banks with a new name and god help you if you ever need to close a channel and go back to L1. Sure, btc has more room to rise, but 1000x rises are done. Mining is captured now and will only get worse. The US government for example could just write a letter to over 52% of the bitcoin hashrate and say "do this or we will shut you down" and they will comply, I guarantee it.

Not everything is about price.

Sorry, but it is a waste of time.

Is this a bot account? It’s just a bizarre Nostr account. 👇👇👇 nostr:note1wl0l48m4mw246t9dpwzeq5n6e48hsqpt6awk2qs9x4lqj0qh9eestpxrwp

joinstr

nostr:note1dq5qnc8cm3gl69epezz9s6edd44lqsgnkzdt4s2qldv7l4v7w9lqznmmxm