Oddbean new post about login | logout Would you use bitcoin if the State was manipulating it for their benefit, but your net worth was still going up?
#Bitcoin is for enemies too. Open protocols allow people we don’t agree with to use it. I will use what I deem to be the best form of money because I want those properties to preserve my labor and time. What bad actors are doing with it does not concern me just as dictators shooting their own citizens won’t stop me from using firearms to defend my family if necessary.
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You do mean by manipulating it? Price wise? Yes. Hash rate or otherwise in a way we would consider compromised, probably not.
Well, there's already a massive consolidation happening with the big institutions, who are all government controlled at the end of the day. If, for example, the govt wanted to make Bitcoin illegal or extremely regulated to the point that it's being strangled, there would be nothing to stop it from happening. In the hands of 10's of millions of users, it would be virtually improve l impossible to enforce anything. Plus, the govt currently confiscates Bitcoin and sells it off cheap to push the price down. Even with that, Bitcoin is resilient. I'd probably bet on BTC regardless of what manipulation the govt was doing.
The manipulation surface area is minimized in bitcoin. No solution is perfect but it is a step towards leaving the imaginary standard.
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Most people do not care about ideological opposition to the State. Pump their bags and they will submit. nostr:nevent1qqs2u0r942gfzwac2la48e520advlffrqema2mhjhemptn8wsrt6r6spzdmhxue69uhk7enxvd5xz6tw9ec82c30qgs286ef249ayl720aflvcnjuja4n5rx7te3wzx0xs25pj6898aassgrqsqqqqqp5tdt0n
