In another episode of "bitcoin is winning", we see here central bankers, capitulating to supporting the protocol by securing it to the level of acquiring hardware (ASICS) to do so.
This plays to the game theory thesis that most bitcoiners have talked about for a decade plus now. What remains to be seen is how they'll react to the chip wars, as that's still an area that's massively dominated by the Han Chinese. Would Argentina have it's own chip industry in the future
We need to see this from a regime that is not friendly to bitcoin or other sound monies before we can call it a win for game theory.
Milei is clearly an outlier in many ways.
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I doubt it's not happening. Milei's just the first opening putting it out there
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That's certainly possible. Who do you think are the most likely other participants?
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Putin most definitely
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That's who came to mind for me first as well. I'd rank the CCP pretty highly, too. They wouldn't advertise their bitcoin mining, because they don't want the Chinese people looking towards bitcoin.
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Lol All governments mining, do so with chips controlled by Xi, plus he's dominating the pool game, with ANT pool and its proxies
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Han Chinese
I checked, indeed, Taiwan is 95% Han.
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100% The Han Chinese own the world🤣🤣🤣
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the phrasing of the headline in the tweet makes it sound more like an art installation
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Wait... we are here to fuck the banks...
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0 sats \ 0 replies \ @ken 2 Nov
No, bitcoin is simply the best money. Both "good" and "bad" people are going to use it.
Obviously banks are going to hold money...
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Oooo sure, fuck the banks regardless. But this just highlights the fact that protocol is really permissionless and truly anyone can use the protocol, including central banks. Something that would've been considered otherwise a myth, about a decade ago.
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Buy who will be the owner? who is in this case "anybody"? Who can access the private key?, I don't know what is the final msg here.
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The owner I beleive would differ from jurisdiction to jurisdiction. However, the message here is, a tech once deemed abominable by central bankers at it usurps them, is now being adopted by them. Hope that clarifies my point
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A central bank is a PRIVATE entity and not a public one as many think it is.
So even if that central bank will start mining BTC, the question is: WHO owns those BTC?
  • the state?
  • the central bank?
  • people ? But which people ?
  • few individuals?
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33 sats \ 1 reply \ @javier 1 Nov
Wait a moment! Aren't central banks private Corporations?
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They most certainly are
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Good questions. My main concern is really when central banks decide they want to control the stack of their mining hardware, and make it all custom made. For instance imagine a scenario where the USA, Russia, the UAE et al, all choose to mine bitcoin with chips or ASICS manufactured in their nation states. That's the real concern for me tbh
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Sounds like a worthy arms race to me.
The ultimate pursuit of capitalism
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Wrong question. Who is USA, Russia or UAE? Can you name who is behind those names?
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My bad, Putin, Bin Salman and other Sovereigns
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and who owns the banks and corporations?
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not you
Most central banks got nationalized decades ago.
Argentina's central bank was nationalised in 1946, same year as the BoE.
For major central banks, it is just the Fed, BoJ, and SNB that have private shareholders.
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