Podcast

Attacks On Bitcoin: Proof-of-Work and Privacy - E239

The game theory that keeps bitcoin secure from hostile hard forks, and the reasons for Europe to be going after bitcoin repeatedly.

In this episode, I expand on my commentary in Bitcoin Fundamentals Report #185.

The first segment is on the game theory that keeps bitcoin secure from hostile hard forks like the proposed by the Green Peace and the scammer Chris Larson of Ripple.

The main point is that coordination to kill the PoW version of bitcoin is impossible because of Bitcoin's decentralization, so there is no future that doesn't involve incentives to defect from that coordination. Hark forks only create altcoins which people can dump to buy more bitcoin.

The second segment of the podcast is on the reasons for Europe to be going after bitcoin repeatedly as we've seen recently. The Euro is in very bad shape and the whole globalist dream of a European super state is falling apart, and with it their currency. These are desperate attempts to protect the Euro from competition, but all it will do is shrink the Euro network, and make its demise more certain.

Bitcoin Magazine Article: https://bitcoinmagazine.com/markets/greenpeace-seeks-to-change-bitcoin-code

EU law https://www.coindesk.com/policy/2022/03/31/eu-parliament-votes-on-privacy-busting-crypto-rules-industry-rails-against-proposals/