0 sats \ 9 replies \ @02bcd3eeb0 4 May \ on: CE002: Censorship Resistance Property bitcoin
You are missing his point regarding 51% attack.
Non-censoring miners become more profitable than censoring miners because they are taking high fee paying transactions that censoring miners wont mine for political reasons. As non-censoring miners become more profitable, they are able to acquire more hash rate to get back over 50% of the network.
I can envision gov subsidising miners for lost profits tbh.
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They get the money to subsidize through increasing taxes/cutting other spending - which is hard to justify to the population. Even harder than Ukraine war spending for example.
Watch his talks, he lays out everything very clearly:
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But that is really a good argument for a nation with democratic system.
I can foresee a few countries nationalise the mining once they understand the importance of bitcoin and mining their own block.
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Nations are in competition with each other. The sets of transactions they want to censor do not overlap.
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IMF would help coordinate such a censorship
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IMF is an American-empire institution that makes dollar loans, if the dollar is breaking down to the extent that the US gov is subsidizing miners - the IMF would have already become irrelevant. Even today no one gives a shit about the IMF.
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Nation states can cooperate against a common enemy. Whether it's IMF, NATO or BRICS coordinating it.
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They don't have a common enemy - their enemies are each other.
NATO: censor these Russian and Iranian transactions!
BRICS: mines transactions.