Tuesday, November 13, 2018

If one wanted to Kill Bitcoin for good and for once...

1) First, you wouldn't kill it straight away, that would look like an obvious tyranny. You would try to sabotage it and steer its direction towards a centralized system you fully control. This is precisely what happened to BTC - step one accomplished.

2) In the event that some people were smart and continued the open source Bitcoin project in parallel to the sabotaged original token, you would develop an ace to have up your sleeve. A trigger that could wreak havoc not only to that continuation of the Bitcoin project but to the whole cryptocurrency market. If you controlled mass media, you would then carry a (more intense) propaganda campaign that undermined the credibility of cryptocurrencies so that the 99% of the population that isn't involved yet would discard cryptocurrencies and label them as a scam.

3) In two days, when BCH forks and there's a possibility the attack fails if many miners start mining bitcoin ABC to defend from your attack, you would use your ace up your sleeve. You would finally make Tether crash and send the cryptocurrency prices to BTC 2k / BCH 150 levels so that defending the Bitcoin project (BCH) would be extremely expensive and unrealistic. You would then, with your accumulated hashpower you've bought with state money printed out of thin air by those with unlimited power, ensure you have a great percentage of the hash power of BCH come the fork.

We believe if this is really an operation to kill Bitcoin, Tether will crash within the next three days. At this point miners have to decide if they will do something out of ideology or stand aside and be spectators a second time, the first being BTC's fiasco with segwit and other shenanigans.


No comments:

Post a Comment