reply on: What is the best takedown of Bitcoin out there? \ stacker news ~bitcoin

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271 sats \ 21 replies \ @SqNr65 OP 28 Jan 2023 \ parent \ on: What is the best takedown of Bitcoin out there? bitcoin

Honestly I think this will take the cake. Joe does have some strong points.

I think what's making up my mind is the mirror image of the path to getting on the Bitcoin train. There is no single post or explanation that will fully transmit all the information necessary to see why bitcoin can be a globally transformational change up of our whole monetary system and beyond. Similarly, there is no single post or explanation that can fully delve into the potential weaknesses and forseeable problems with the system.

Joe has several different articles and arguments which build on eachother, each with a different line of thinking in a different area of the system, and taken together along with some critical thinking and independent analysis on my own part, it constitutes the best takedown I've seen of Bitcoin out there.

Thanks so much for this

10 sats \ 9 replies \ @monk_cactus 28 Jan 2023

Winner goes to paywalled "security budget" fud?? Idk man...

Thanks for putting up the bounty though, I enjoyed this thread

21 sats \ 1 reply \ @Lumor 28 Jan 2023

I tried to summarize it in another branch: #127685

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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2 sats \ 3 replies \ @SqNr65 OP 28 Jan 2023

Who would you have picked as the winner?

10 sats \ 1 reply \ @monk_cactus 28 Jan 2023

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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2 sats \ 1 reply \ @2bithits 28 Jan 2023

It wasn't paywalled when I read it a year or so ago

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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10 sats \ 5 replies \ @2minutebitcoin 28 Jan 2023

Can anyone summarize the points, or provide non-paywalled links?

We definitely disagree that a single post can't transmit what's necessary to see why Bitcoin can be a globally transformational change.

0 sats \ 1 reply \ @2bithits 28 Jan 2023

If I remember correctly its a government or governments gaining more than 51% of the hash rate to DOS attack so no transactions get through. They have basically an unlimited budget & as the network gets attacked more bitcoiners will try to get out creating a kind of death spiral. As the price of BTC comes down it will be cheaper to continue this wasteful mining.

Something like that