/biz/ - Business & Finance

>>25772684
>>25773292
>>25773328
>>25773362
yeah
my take on it is that china will use btc as a way to drain capital from the US and put worthless bitcoins on the balance sheets of US institutions and then they will rugpull btc and enforce the gold yuan
chinks know that btc is extremely vulnerable and that no serious wealth should be stored inside it
but before then we going to $1 000 000

>>25596975
>In a 51% attack, one miner or mining group gains enough hash power to take control of 51% or more of a blockchain network to double-spend Bitcoin and block any and all transactions
bitcoin relies on the idea that computing power and the production of computing power is inherently decentralized and equal, as long as it is not equal natural monopolies will form and Bitcoin will go to zero

if someone had a machine capable of creating gold out of thin air with no cost the price of gold would go to zero in a second - even if no gold had yet been created
the gold machine is a credible threat and a credible threat of an asset being hyper inflatable or losing its ability to operate is all that is needed to render it worthless

bitcoin has had the threat of double spending and transaction blocking looming over it since inception (double spending has even happened once) and the fact that people haven't realized this credible threat yet just means that a lot of people will end up losing everything they own once the threat stops being a threat and becomes reality