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0 sats \ 2 replies \ @SwapMarket 1h \ parent \ on: The part of Bitcoin you *have* to trust bitcoin
It is either uncensorable and decentralized, or not Bitcoin. We have thousands of centrally controlled shitcoin blockchains that are worthless and useless.
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0 sats \ 1 reply \ @Scoresby OP 1h
what keeps bitcoin from following my above description?
my only answer is the fee market.
But that only works if people are willing to pay the fees. If people do not want to pay extra fees for transactions a censor wishes to exclude from blocks, bitcoin very likely ends up with miner centralization.
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0 sats \ 0 replies \ @SwapMarket 1h
I see the opposite: any shady transaction can get inside a block if the sender pays enough fee directly to the willing miner. Regulatory capture of the miners to follow OFAC rules, then sanctions against certain countries, then individuals based on social rating? That is certainly against the ethos of Bitcoin. I will stop using it immediately if that happens. And dump all my coins.
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