I have two issues thst I haven't been able to find a satisfying answer to when it comes to BTC. Can anybody help prove me wrong, so that I can keep calm and stack sats?
With adoption, the pressure for regulation with rise. The nature of BTC makes it very difficult, but IMHO not impossible. Here is what I am afraid of:
1) Non-fungibility - Because of BTCs public ledger, every transaction can be traced, every coin can be traced, which effectively makes every single sat on chain non fungible. That IMHO is a vector for regulation as governments can make it illegal/regulated to accept or pay with coins that for instance have been used for illegal activities, mined using fossil fuels or whatever else.
2) centralization of mining - Given that BTC can mined only with specialized, usually quite expensive HW (ASICs), I expect creeping tendency towards centralization of miners. Not absolute centralization. where there would only be a single pool, but centralization where over 50% of mining capacity is in hands of a small number of big companies that are easy to "hold by their balls".
ancapone / An Capone 🌗
npub136…pmepl
2023-07-30 20:19:15
Author Public Key
npub1363f98sscslf6hhq9gkh9fjhsvn8x7p4h6577sd969n9yhhgg7yqwpmeplPublished at
2023-07-30 20:19:15Event JSON
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"content": "I have two issues thst I haven't been able to find a satisfying answer to when it comes to BTC. Can anybody help prove me wrong, so that I can keep calm and stack sats?\n\nWith adoption, the pressure for regulation with rise. The nature of BTC makes it very difficult, but IMHO not impossible. Here is what I am afraid of:\n\n1) Non-fungibility - Because of BTCs public ledger, every transaction can be traced, every coin can be traced, which effectively makes every single sat on chain non fungible. That IMHO is a vector for regulation as governments can make it illegal/regulated to accept or pay with coins that for instance have been used for illegal activities, mined using fossil fuels or whatever else. \n2) centralization of mining - Given that BTC can mined only with specialized, usually quite expensive HW (ASICs), I expect creeping tendency towards centralization of miners. Not absolute centralization. where there would only be a single pool, but centralization where over 50% of mining capacity is in hands of a small number of big companies that are easy to \"hold by their balls\".\n\n",
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