271 sats \ 10 replies \ @SqNr65 OP 28 Jan 2023 \ parent \ on: What is the best takedown of Bitcoin out there? bitcoin
Honestly I think this will take the cake. Joe does have some strong points.
I think what's making up my mind is the mirror image of the path to getting on the Bitcoin train. There is no single post or explanation that will fully transmit all the information necessary to see why bitcoin can be a globally transformational change up of our whole monetary system and beyond. Similarly, there is no single post or explanation that can fully delve into the potential weaknesses and forseeable problems with the system.
Joe has several different articles and arguments which build on eachother, each with a different line of thinking in a different area of the system, and taken together along with some critical thinking and independent analysis on my own part, it constitutes the best takedown I've seen of Bitcoin out there.
Thanks so much for this
Good luck fed 😉
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Winner goes to paywalled "security budget" fud?? Idk man...
Thanks for putting up the bounty though, I enjoyed this thread
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I tried to summarize it in another branch: #127685
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Who would you have picked as the winner?
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me
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It wasn't paywalled when I read it a year or so ago
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Can anyone summarize the points, or provide non-paywalled links?
We definitely disagree that a single post can't transmit what's necessary to see why Bitcoin can be a globally transformational change.
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If I remember correctly its a government or governments gaining more than 51% of the hash rate to DOS attack so no transactions get through. They have basically an unlimited budget & as the network gets attacked more bitcoiners will try to get out creating a kind of death spiral. As the price of BTC comes down it will be cheaper to continue this wasteful mining.
Something like that
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Oh I like that, maybe I'll make another bounty about that one
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Wow!
Yeah, I really think Joes arguments need to be answered by bitcoiners that know more about the mechanics of BTC.
Thanks so much!
Here's an interview of him discussing some of these ideas.
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