https://cleanupbitcoin.com/ is not about using the consensus mechanisms to takeover Bitcoin from the inside. That was tried in 2017 and failed. This is part of a PR campaign to lay the groundwork to make POW illegal through legislation. We are facing a different threat here. Read on:
Look at the POW moratorium law proposed in NY, where 20% of mining in the US takes place. Or their failed attempt to outlaw it in the EU. More will come, because there is a playbook that has been set in motion: all of them use climate and the environment as justification.
If they are successful at passing laws banning POW, by extension supporting POW with your home nodes can easily also become a punishable violation. Sure, this would not kill Bitcoin, but it might share a similar fate than file sharing on the internet.
Napster was #1 until it got shut down. That certainly didn't stop file sharing: people still torrent today. But it's costly, cumbersome, and illegal. Even though it lives on, it has limited power, and can't counter the forces of centralization, censorship and surveillance.
The point is: they don't have to kill Bitcoin to succeed. By outlawing POW, their aim is to neutralize #Bitcoin by making it fringe enough that it will be irrelevant, just like torrenting. This is not their first rodeo.
If POW is banned in the US and the EU, then it is banned across the western world. The empire might be crumbling, but it still stands, and it's reach is still global. With China already banning POW, this might be a dangerous scenario we want to a avoid at all costs.
I don't believe this will work. But I see a lot of people mocking and disregarding this attack on Bitcoin. We must be more careful. P2P networks offer some protection, but not immunity against a concerted effort between the banking, media and government sectors. Vigilance.
Submitted March 30, 2022 at 12:39PM by BTC_Commons https://bit.ly/3qOZ3Oh
No comments :
Post a Comment