These are sanctioned addresses that custodial services are supposed to block. This doesn’t block the addresses or wallets from going into the next bitcoin block. Although that is within the realm of possibilities, I haven’t seen it happen yet. I already mentioned that this can happen before. You should read the entire thread. The government could subsidize mining and take over riot, marathon, and the other big mining businesses then filter out those sanctioned addresses from blocks. However, I also said that the fee market is what determines censorship resistance in money. This is all speculation but if the government announced it was going to subsidize mining, that would legitimize bitcoin to the world. The price would pump and other governments would jump in to mine as well. This inevitably would weaken the dollar which is not what the government would want to do. Other countries like Russia and Iran would rush to gain hash power to prevent the US from sanctioning them. More countries would encourage mining businesses to operate in order to profit and a lot would welcome miners from the US. And as the price of bitcoin goes up, the demand for dollars declines. The government would need to print more money to keep subsidizing and censoring blocks which would drive more people away from dollars and into Bitcoin. They’re shooting themselves in the foot and destroying their currency. In order to be censorship resistant, the censored transactions would have to bid higher fees to incentivize mining those transactions. As those fees get higher, rogue miners go online. This is similar to how “illegal” drug dealers pop up when it becomes profitable to do so. I think this type of government attack will fail. But it remains to be seen.
https://github.com/libbitcoin/libbitcoin-system/wiki/Censorship-Resistance-Property
At this point its already known that countrys mine bitcoin as part of their "cover ops". So they wont come up and say they are mining.
so govs take control of major electrical grid and mine w it. Then introduce kyc to anyone. The fees are not matter at this point. Individual mining doesnt matter also as this point. What matter is who win those blocks, which country win those blocks.
They wont be an annoncement about gov financing/mining bitcoin, they also wont legitimize it 'cuz law around the world are "different". And like in those HW they will choose who is in and who is out.
This is all speculation about an unknown future. I see things play out differently from you and I plan around that. There is no sense in arguing about things no one can predict. But we have to be prepared to live with the consequences of being wrong. What if the bitcoiners end up being right? Would you be okay missing all those gains? If the answer is yes then you have nothing to worry about. But if the answer is no then maybe consider holding some just in case. No one can guarantee its success or demise. We can only do the best we can with the information we have available to us today.
im not in something for the greed.
Its abvious what its happening, bitcoin will never be use by a lot of people. So let see where the greed will lead. XD
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