Oddbean new post about login | logout One of the more beautiful things about a truthful, decentralized and secure protocol is that it imposes a self inflicted pain on those who try to control it, cheat it, or corrupt it for their own self interests. #Bitcoin
Bitcoin showed if you lie like FTX and SBF did, you will be financially punished Bitcoin worked
Many more will try - many more will fail. Warren and banking establishment backing her are only today’s SBF’s.
yes but what stops Warren & co given they get to decide rules of the game and how it’s played?
If they could decide, then bitcoin would not be decentralized and secure. They only decide for themselves and those who believe they decide. And time will prove that.
It's going to be fun to watch, Warren and the Bankers, when they find out just how much power they really have It's going to be a 5 Stage of Grief humbling experience for them
They can't stop Bitcoin but they will influence how people use it. The Bitcoin network relies on businesses for it's infrastructure, users rely on mining pools, LSPs, custodians... All regiter businesses who will follow the laws and regulations, and so will their customers.
That’s what we’re all counting on, and hoping against hope that this bears out. Because, as humans, we need a win right now.
Well stated!!
And this pain is in their interest.
Or equally it holds the author of posts more accountable Ie cost Say something wrong, untruthful, deceitful, then you simply cannot delete it This is a feature not a bug First few days of Nostr only & learnt so much This fact is one great idea that I love
