10 sats \ 0 replies \ @BitcoinIsTheFuture 28 Jan 2023 \ on: What is the best takedown of Bitcoin out there? bitcoin
  1. A bug in the code is discovered
  2. SHA 256 is exploited before 50% of nodes can updated to protect the network
  3. hash rate and the number of nodes continually go down
  4. first world countries outlaw if and don’t allow it to be held. Yea users don’t need their permission, but it would crush adoption and to keep growing institutional investors will need to join at some time.
  5. Bitcoin is either worth $10m a coin or 0, it’s an asymmetric bet. It becomes a failed experiment
  6. 51% attacked through a few major parties collaborating
  7. satoshi is the US government or Putin
  8. it can’t scale as a base layer and lightning fails
  9. everyone loses faith in it.
  10. only CBDC are allowed to pay for anything worldwide making all other currencies useless
  11. the world deems the intrinsic value of 0 and 1’s on a computer as $0.
write
preview