71 sats \ 3 replies \ @Coinsreporter 26 Feb \ on: Bitcoin amnesty - hypothetical scenario bitcoin
Just adding to you hypotheses. If state approved Network owns 51% of all 21 Million Bitcoins some day, will that be the day when they declare war against self-hosted network. Will they control it all by only having a 51% on state network?
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43 sats \ 2 replies \ @OriginalSize 26 Feb
No, Bitcoin is not proof of stake. If they asserted control over mining there could be fork away from sha256.
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71 sats \ 1 reply \ @Coinsreporter 26 Feb
So it means there's nothing wrong even if the state approved Network accumulates maximum of the supply. They can't alter or manipulate Bitcoin.
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10 sats \ 0 replies \ @OriginalSize 26 Feb
Correct. It's a two-way door as well. Coins can exit the state-approved regime too.
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