Capture of mining power by bad actors is my greatest fear for Bitcoin. If the cantillionaires plow enough of their wealth and influence into capturing mining power they could control a huge percentage and undermine the network in many ways. It could already be happening for all we know.

A vast majority of mining power is in the US and China, arguably the countries with the most to lose from a Bitcoinized world. The large mining companies are vulnerable to takeover, by violent or economic means, and in fact may already be "sleepers" waiting to act at a certain time when Bitcoin becomes the most threatening to them.

I can imagine a scenario where the fiat shit is hitting the fan and Bitcoin is poised for a leap forward in adoption. That is when they will spring the trap and undermine the network in some way, which could test confidence in the Bitcoin network. If they can suppress the price during this time it could drive legitimate miners out of business and allow them to consolidate control over mining power.

Idk, maybe I'm giving them too much credit.

Capture of mining power by bad actors is my greatest fear for Bitcoin. If the cantillionaires plow enough of their wealth and influence into capturing mining power they could control a huge percentage and undermine the network in many ways. It could already be happening for all we know.

A vast majority of mining power is in the US and China, arguably the countries with the most to lose from a Bitcoinized world. The large mining companies are vulnerable to takeover, by violent or economic means, and in fact may already be "sleepers" waiting to act at a certain time when Bitcoin becomes the most threatening to them.

I can imagine a scenario where the fiat shit is hitting the fan and Bitcoin is poised for a leap forward in adoption. That is when they will spring the trap and undermine the network in some way, which could test confidence in the Bitcoin network. If they can suppress the price during this time it could drive legitimate miners out of business and allow them to consolidate control over mining power.

Idk, maybe I'm giving them too much credit.

What are your thoughts?

What is #bitcoins biggest threat to longevity and +50% global adoption?

Idea/comment = 50 sats

#nostr #plebchain #pleb #zaps #btc #bitcoin

#plebhy #nostriches #zap #LightningNetwork #gfy #corn #beetcorn

#nasty #woman

Mood today 😂

It's a Lodi Zinfindel

Stacking 🌽🌽 🌽

Bottling about 100ish bottles today

#grownostr

Degrees are certificates of memorization.

#Bitcoin is proof of work.

not spicy, have been saying this for the last three months

#Bitcoin made me realize just how ridiculous the debt “ceiling” is.

#HODL

No one is coming to save us. nostr:note1zauhmgz0akw87y53wuddw2rfvy5y7re7efhmqc4z3z5vj37lsx5qtma79u

A slithery bloke

wen 1 sat per vbyte again?