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369 sats \ 0 replies \ @justin_shocknet 4 Dec \ on: Which btc threat vectors concern you most, if any? bitcoin
There's no risk to bitcoin that isn't also a risk of new and likely violent dark ages. The only question is how much influence are people willing to pursue that timeline wielding?
Technical nits are ego driven virtue signals at this stage, few can accept that Bitcoin's destiny is well-beyond the control of advocates and developers.
Fear and distrust of government is justified, but the framing is naive to ignore what levers an evil (or simply self-interested) government has already chosen not to pull.
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There are state-level hardware backdoors in just about every laptop, phone, and server that could be programmatically exploited to start sweeping coin (as well as dragnet decryption of comms). This would be a nuclear option, effectively destroying the internet as we know it as hardware supply chains would have to be rebuilt over decades after the usurping power is otherwise contained. This could be more devastating in many ways than an EMP attack, depending how the exploits are used. The only deterrent is the desire for the state to sandbag these exploits for secret targeting of entities over time, and avoiding reprisal.
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[They] could also reveal that Satoshi was an O-Plan and some NSA think-tank controls 30+% of supply, not including rat-hole financial firms they also control. Unintuitively, this could be good too. It's either a white-hat op -> world reserve currency good result, or rat poison -> rug-pull bad result. If it went bad, there's ultimately no wealth except defensible productive land, and thus we accelerate toward a violent timeline. The deterrent for the bad outcome is again a reprisal response to the overreach, at the expense of the soft-control happy path.
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Deflationary collapse by simply stopping the money printers, allowing in effect triggering of a global margin call. Most all property would transfer to the creditor of last resort, the globalist bankers. It's just like Bitcoin never existed in that case because its just another way to disappear fiat. Same deterrent as above, people in the system not at the very very top would be unlikely to survive it.
TLDR; technical and cultural risks are illusory, it's in the hands of game theory.