One nagging thot

[Anonymous No.15798794]

Okay so imagine the best case bull scenario wherein bitcoin takes over as the 'gold standard' and goes to the absolute moon. Game theory would say that not all countries can adopt this at once, so we're likely to get a scenario where one, or a few, (probably poor) countries adopt it. The marketcap is so low relative to an entire country's wealth that the earliest countries will adopt a large portion of it, leaving other (probably wealthier) countries to avoid joining later and taking a different route - either by not adopting at all or using a different currency/blockchain. How is there possibly a scenario where 'most' or 'all' countries can use the same blockchain/bitcoin? It simply wouldn't happen.
Doesn't this mean that, best case scenario, bitcoin ends up mooning but becomes 'devalued' against the newer/other blockchain that ends up being used by the wealthier, late-adopting countries? Please chime in, high IQ anons.

[Anonymous No.15798893]

>>15798794
boomp
plz

[Anonymous No.15798919]

bsv unlimited capacity next feb
https://www.youtube.com/watch?v=fUTYTejRPew
https://youtu.be/HfHgMDhISGw

[Anonymous No.15798934]

>>15798919
tl;dw? unlimited capacity wouldn't solve the issue of early adopters having disproportionate control on one blockchain though would it?

[Anonymous No.15798941]

>>15798794
>>15798919
stiff for those milkers and big blocks

[Anonymous No.15798947]

>>15798934
proportionate control is not what secures the blockchain profit is

[Anonymous No.15798955]

Bitcoin will never be any sort of reserve currency. If governments wanted it they would just clone it by moving a few decimal places. Not a fork, a clone. A whole new chain. Nearly identical. Then they can premine it and get first spend capability. All the miners would be compatible and could easily switch over. That being said, they will develop their own crypto currency and are already doing it. Bitcoin is on life support.

[Anonymous No.15799014]

How many XLMs for her

[Anonymous No.15799027]

>>15798947
i c. so what does?
>>15798955
I kind of agree, but government controlled 'cryptocurrency' would just be digital fiat, which doesn't undermine the use case for bitcoin/other cryptos surely

[Anonymous No.15799039]

>>15799027
profit secures the blockchain

[Anonymous No.15799051]

>>15798794
This is one of the top thots to ever be posted on 4chins. Here's a bump for being a gentleman of taste OP

>t. a chubby chaser

[Anonymous No.15799090]

>>15798794
yes for btc and hodling game the biggest whale holds all the cards, but it shouldn't be that way. e.g. a government of each country might run an enormous mining farm.
bsv will take the hodler power away of market manipulation by giving it to the miners, with massive size blocks, huge amounts of bitcoin will be spent, mined and dumped back on the markets constantly, a sleeping holder dumping wouldn't be noticed.
>>15798955
sadly this though probably, gubments don't like losing power and playing fair
see remoaner faggot mps in uk parliament refusing a general election because they want power and know they will lose their jobs when we have one

[Anonymous No.15799150]

>>15799027
Not if it has clearly defined rules like bitcoin. Like I said. They could just clone it like lite coin did. It would instantly have the faith of bitcoin because it would basically be bitcoin.

[Anonymous No.15799164]

>>15798794
https://nakamotoinstitute.org/mempool/bitcoins-shroud-of-subtlety-and-allure/

[Anonymous No.15799187]

>>15798955
> All the miners would be compatible and could easily switch over.
but would they? no, I don’t think they would

[Anonymous No.15799188]

>why should high risk takers get more profit than low risk takers
you are too low IQ for this

[Anonymous No.15799200]

>>15799187
When it will be the new reserve currency used for paying taxes, yes they would. Governments would collectively ban bitcoin on and off ramps and they would see the writing on the wall. You could lose your money overnight in bitcoin because you rely on miners to sustain the network.

[Anonymous No.15799218]

>>15799150
is “lite coin” bitcoin though? does it have the hash rate that bitcoin does? it doesn’t even have the same hash function. and don’t forget, it doesn’t have the thousands of nodes that bitcoin has.... does it have a “Satoshi Nakamato”?

[Anonymous No.15799221]

>>15799200
people would surely not let the world reached such a cucked collective state

[Anonymous No.15799224]

>>15799218
In saying it can be cloned “like lite coin.” It wouldn’t be bitcoin. It wouldn’t be lite coin. It would be similar. Bitcoins flaw is open sourced code that they could easily clone once retards have done all the development for free. Then they can just take over the miners because miners are profit driven. Bitcoin has massive counterparty risk.

[Anonymous No.15799230]

>>15799221
It could easily happen. IMF announces new currency. Bitcoin miners switch en made to get those new coins. Bitcoin is dead. What is counterparty risk?

[Anonymous No.15799285]

>>15799230
you have remember miners are multiple entities and if hash rate did fall other people would start mining. i think the other key thing is that i don’t think the IMF would clone bitcoin they would go and make a cuckchain so they keep fucking people in the ass

[Anonymous No.15799306]

>>15799285
If they simultaneously banned bitcoin the miners would switch because the IMF coin would be worth something and pay their electricity bill

[Anonymous No.15799320]

>>15799306
explain pls how all gubment simultaneously ban bitcoin and enforce that

[Anonymous No.15799327]

>>15799320
All fiat on and off ramps criminalizes in developed countries. Coinbase gone. Kraken gone. Every fiat to bitcoin ramp gone. Use anti money laundering measures. If they wanted to they could stamp this out overnight. They wouldn’t get rid of it but why would miners mine a coin they can’t sell to pay their electricity. Bitcoin has massive counterparty risk.

[Anonymous No.15799337]

>>15798794
Any state created crypto will have the same problems as fiat.
They could make it so they have the ability to print more, solving nothing as it is not scarce.

If they make it have a fixed supply, then it is just another altcoin, and comes with the same problems altcoins suffer from:
Centralization: since it has a central authority dictating the rules (the government that created it), there is always the threat that they can command miners/nodes to run the newest version, which can implement changes such as inflation or censoring transactions

In order for opposing states/countries to have confidence in it, it has to be decentralized so much that nobody can change the inflation schedule, and no one can censor transactions (i.e. impose sanctions).

Even ETH has Vitalik, and XRP has Ripple Labs, bcash has Ver and Jihan, Sanjay's Vision has Creg etc.
NOTHING is as secure and decentralized as Bitcoin.

And governments will not be able to make anything they can claim to other opposing countries that they won't control.

Also, if another coin can take over Bitcoin, this proves that crypto is not an unobsoleteable store-of-value like gold is, since something can take the top place. This new coin will just be another "obsoleteable" reserve currency (like pic related), that will eventually collapse, and not a universal asset class store-of-value like gold or real estate.

In order for big money to invest in crypto (not just states, but also institutions, hedge funds, whales etc.), it has to prove that it is an unobsoleteable store-of-value, and not just another Myspace or Friendster.

No matter how you look at it, this crypto thing is Bitcoin or nothing.
Either Bitcoin succeeds or it all fails.

[Anonymous No.15799349]

>>15799327
> If they wanted to they could stamp this out overnight
has anything ever happened overnight in government? do you really think no one would object and everyone would just go on with there day like nothing happened? kek

[Anonymous No.15799358]

>>15799337
Central banks could clone bitcoin and sell not change the supply from 21M to 210M. One single change. All existing miners would be compatible and your legacy bitcoin coins would be worthless. To finish the job, make the new coin the global reserve currency and ban all transactions in bitcoin as counterfeiting. Miners would switch so fast I bet the difficulty wouldn’t have time to adjust on the legacy coin and it would lock up and die.

[Anonymous No.15799365]

>>15799349
Yes. In a crisis they could introduce a new global reserve currency to deal with the dollar liquidity issue and it’s necessary to eliminate counterfeit competitors. When have central banks ever played fair?

[Anonymous No.15799372]

>>15799327
also obviously, if hypothetically, bitcoin is banned effectively in developed countries, it wouldn’t just disappear like that snap your fingers and it’s gone

[Anonymous No.15799397]

>>15799372
No. It would be a slow painful death. First day cut in half. Second day, half again. Day after, half again. I’m f it halved every day for eternity it would never reach intrinsic value. You can buy all the legacy coins you want

[Anonymous No.15799401]

>>15799349
>>15799327
>>15799365
I get that point, but this doesn't address the game theory perspective - you're referring to 'government' as one entity, but rather every country's gvnt would act independently, meaning that the first to adopt would hold an advantage wrt bitcoin and force others into an alternative? also, the first gvnt to ban it would risk losing out if other countries adopt and that ends up fruitful. 'overnight ban' is optimistic for one government, nevermind every gvnt in the world

[Anonymous No.15799414]

>>15799090
also 'mining farms' wouldn't suffice at this point in time given the vast majority has already been mined?
>>15799051
thank you sir

[Anonymous No.15799420]

>>15799401
We are coming up to a sovereign currency crisis. This decision will come from IMF and everyone will get on board.

[Anonymous No.15799449]

>>15799420
https://cointelegraph.com/news/imf-chief-christine-lagarde-encourages-open-cryptocurrency-regulation [Embed]

but will it?

[Anonymous No.15799460]

bitcoin will never be as bullish as hidden gems. Keep an eye on Stegos, this ieo is a bomb

[Anonymous No.15799484]

>>15799358
I missed the part where the one world government gets established and gets to impose a ban worldwide as well as mandate only a single world currency.

Or did you think opposing countries would actually cooperate with each other over this?

It's like you didn't even read the 2nd and 3rd paragraphs of my post. Your post reeks of someone completely clueless of game theory.

[Anonymous No.15799539]

>>15799337
>>15799484
thanks for your chime, I agree to an extent, though do you think that the world/other reserve currency is necessarily limited to one entity? your point about the other cryptos is that they aren't AS decentralised, not that they're completely different, so surely there's a scenario where multiple cryptos become relevant in some interacting way?

[Anonymous No.15799544]

>>15799484
Ok. Say 20% of countries dissent. They are all 3rd world. You still want to own bitcoin?

[Anonymous No.15799551]

>>15798794
So fucking hot I can stand it must find and fuck

[Anonymous No.15799555]

>>15799449
Yea because public officials always do exactly what they say publicly.

[Anonymous No.15799563]

>>15799414
blocks will be full of tx fees for miners to compensate loss of new minted coins

[Anonymous No.15799585]

>>15799539
Other cryptos can stay relevant, sure.

ETH will always be there for decentralized computing... imo centralized computing is always better and faster, but there are use cases for it, like online gambling/casinos, like that FairWin thing, where the owners wish to stay anonymous, out have a system that is probably fair.
Or when traditional the stock market is eventually obsoleted and tokenized.

Top fast altcoins like LTC and maybe Bcash are good alternatives for when BTC is being slow or clogged that transaction fees are getting high.
In my experience, XRP is the best for this though, transfers across exchanges in seconds.

Maybe a few niche use cases, yeah. Like BNB for trading.

But for global store-of-value, global asset class that institutions and even states will use?
It's either Bitcoin, or crypto has failed this use case.

If it's obsoleteable, it can't be a store-of-value.

[Anonymous No.15799611]

>>15799544
If they can even unite at all to make such decisions, why even bother with crypto? Why not make it a central database like PayPal or Visa?

But just look at the China and US trade war.
Countries racing each other to devalue their debts by a "race to the bottom", i.e. inflating away their currency to reduce the value of their debts

If countries are so cutthroat to do this to each other, how can they trust each other over a single centralized crypto?
Created by someone who can inflate it to their own advantage, or impose sanctions on the others, like when another country pisses them off like Venezuela?

Nothing you are saying makes sense outside of a one world government scenario.

[Anonymous No.15799617]

>>15799585
The last hurrah of bitcoin. It’s already failed it’s white paper vision of digital peer to peer cash. If it can’t function as digital gold it’s over. So ask yourself, does bitcoin have counter party risk? Hint:it does. So it’s going to fail this too. It relies on miners to exist and must rise in Value by 5% per year to pay for the miner decay.

[Anonymous No.15799620]

>>15799585
I agree, but I guess my question is still - assume bitcoin is a store of value and doesn't die or get surpassed - how do you see global adoption playing out in a way that doesn't result in early adopting countries dominating the space? how could it be adopted in a way where each individual countryis incentivised to hop on the band wagon at any given point, and it not just ending up the standard for a few poor, high-inflation countries? or if you think institutions will adopt before gvnt, same question applies.

[Anonymous No.15799625]

>>15799611
A bitcoin clone with a moved decimal place would not be inflatable.

[Anonymous No.15799636]

>>15799620
Bitcoin will never be adopted. They won’t allow a global wealth transfer to basement dwelling NEETS. Never gonna happen. They will launch their own coin and people will use it.

[Anonymous No.15799700]

How much do you have to give a middle price range escort for barebacking? Whats the price that most say yes for?

[Anonymous No.15799712]

>>15799221
Have you not been paying attention to how western governments seem to collude in devaluing their currencies in tandem? We’re already there

[Anonymous No.15799717]

>>15799620
Well, I think once made my point above how Bitcoin cannot be surpassed.
So you question is, how will it then gain adoption, if countries resist?

By the constant demand, plenty of wealthy people want an uncensorable confiscateable unfreezeable asset to store their wealth in.

Just check out the Panama papers.
Or pic related.
Bitcoin is the most perfect invention ever created for this purpose.

This will create a constant demand and buy pressure on Bitcoin. This will attract institutional investors, and will cause the price to increase naturally over time.

If governments won't join in, retail will bring it up, and that will attract institutions. Governments that don't adopt will get left behind.

[Anonymous No.15799722]

>>15799611
>Nothing you are saying makes sense outside of a one world government scenario.
Hmmmm

[Anonymous No.15799759]

>>15799717
>Governments that don't adopt will get left behind
that's the part I don't see - what if the US and another few countries don't adopt? what would 'get left behind' even mean in that context? they'll just come up with an alternative, and different blockchains might co-exist between countries/groups

[Anonymous No.15799765]

Yo ezu3E6Wv -
Reading through this thread, I don't understand why you think BTC miners would ever stop mining BTC and jump to a cloned coin. I mean they can do that today. But as long as BTC has value, there's profit to be made mining it.

Regarding OP's question about some nation obtaining a disproportionately large share, yeah, look at oil and the Middle East. You think Dubai was in good economic shape 50 years ago? Wealth moves around the world as different resources become valuable. Nothing says that today's wealthy countries should stay that way, the current distribution of wealth and power isn't static.

[Anonymous No.15799794]

>>15799765
>compares a real, scarce tangible good like oil to digital fiatbux

[Anonymous No.15799798]

>>15799625
Did you even read the entire post?
You addressed ZERO of the points I made.

And do you even know what you are talking about?
They can easily inflate it, all of takes it changing pic related.

Just add the following lines to GetBlockSubsidy:
> if (nHeight > x && nHeight < y) return 50;
and that makes all blocks mined between x and y give 50 coins as miner reward.

(((They))) can just set it so that x is like a few months into the future (easily computed, 144 blocks in average are mined a day). And y is any number of blocks they wish to print at.

Since you act like (((they))) have do much power that they can ban Bitcoin, then they can ban miners from not running the newest version, and give them like a week to update.

How can you ever trust a central authority to never inflate? Even ETH itself had changed its monetary policies several times (and is still set to change it for ETH 2.0)

>>15799636
>They will launch their own coin and people will use it.
You completely ignored my points here >>15799611
Countries are racing to the bottom to chest each other, yet you believe they can cooperate long enough to pull off something like a world currency?

As I said, reeks of ignorance of game theory.

[Anonymous No.15799848]

>>15799759
>they'll just come up with an alternative, and different blockchains might co-exist between countries/groups
Sure, there might be multiple ones, like SEPA, SWIFT, etc exist today

But these altcoins (yes, that's what they are) will never be a globally-accepted store-of-value due to threats of inflation, sanctions/freezing/confiscation, etc.
All problems relating to centralization.

If they "don't adopt", then they don't have any stores of it, simple as that.
Countries do like stores of value, see pic related

[Anonymous No.15799868]

>>15799798
>return 50;
Rather
>return 50 * COIN;

[Anonymous No.15800204]

>>15799798
I don’t think you’re setting up your game correctly. Check your assumptions shitlord.

[Anonymous No.15800222]

>>15798794
a few generations later. boomers are too attached to fiat. zoomers eat up crypto

[Anonymous No.15800253]

>>15799224
>>15799230
>>15799327
Did you just learn the term “counterparty risk” in ECON101?

[Anonymous No.15801430]

BTC is not practical for routine payments.

[Anonymous No.15802811]

Bitcoin will be adopted by the masses, who will replace the central banksters. Central banksters can "adopt" whatever shitcoin chains they want, but nobody else will.

See: Venezuela's failed "Petro" and their recent "sure we'll take Bitcoin as payment for our oil!" backflip.

[Anonymous No.15802980]

>>15799759
>that's the part I don't see - what if the US and another few countries don't adopt? what would 'get left behind' even mean in that context? they'll just come up with an alternative, and different blockchains might co-exist between countries/groups

If the US doesn't adapt, the rest of the world will replace the US dollar with something else as the world reserve currency. They will certainly be using blockchain tech for the next world reserve currency and every nation is researching how to use this to topple the US dollar. When this happens, the US dollar with go through hyperinflation and there's nothing the US can do to prevent this.

And realize, coming up with a new blockchain means nothing if there's no usage. No one is going to take a government backed cryptocurrency seriously as it'll be centralized, which defeats the purpose of the trust in bitcoin. And the US and banks have been struggling to regulate and maintain some control over crypto for some time. The US has sanctions on Cuba and Iran. You can use crypto to completely bypass the banking system and ignore those sanctions thanks to crypto currency. Central banks have been sanctioned by the US for billions of dollars so there's every incentive to research and get the upperhand over the US.

[Anonymous No.15803138]

>>15802980
This is not far from the truth. I see the Aramco IPO as the beginning of the end of the petrodollar system and am hard pressed to imagine it actually happening without Saudi Arabia getting nuked by someone.

[Anonymous No.15803970]

>>15798794
Bump

[Anonymous No.15804019]

>>15802811
Yea sure. Them and their 7tx/s will take over the world. And don’t start about lightning. You need to open a channel on the main chain to use lightning.

[Anonymous No.15804639]

>>15799188
lol

[Anonymous No.15804704]

>>15799337
All correct except Bitcoin Cash is Bitcoin.
BTC is an altcoin.

[Anonymous No.15805496]

>>15803970
Bamp

[Anonymous No.15806686]

>>15805496
Last 1

[Anonymous No.15806721]

>>15799700
About 5k, more if you want to nut