To understand Bitcoin is to understand everything in the future world.
China stood against this technology and lost this opportunity to other countries.
North America is now behind this technology. Most of the hash power has migrated to that side.
Now he is with an authority behind him that supports him.
The 51% attack currently appears to be a fanciful argument.
In general, a hash rate of 51%, unaware of all investors.
It is impossible to gather strength together. Already, many companies have undertaken this task, and it is impossible to take such an initiative.
As for the energy used by Bitcoin. The energy used by the traditional financial system, namely banks, is twice that of bitcoin. This is the best alternative even if there is only bitcoin on the market. And it's not just him. Many projects use PoS proof-of-stake, which reduces energy use considerably.
For governments to ban bitcoin technology, we need to bury all electronic devices in the ground.
So we have to go back to the stone age. This doesn't seem possible either.
They want to stop this technology with the same arguments for years. But all your efforts are in vain.
Thanks for the article and information. You have chosen a good topic. I wish you a good day.
These are just things made up to scare the market, people. they can't beat us in real life, so they resort to such ways.
There is only a 51% chance of an attack among them, but it is less likely to happen as the volume of btc grows day by day.
Instead of supporting BTC and keeping up with the change, people are vilifying BTC. The people I'm talking about are banks and money lads.
Since we are talking about legends, let me tell you a legend. The Rockfeller and Rothschild families are the richest families in the world. None of these family members appear on forbes, they are actually richer than those on forbes, but they hide themselves. The Rockefeller family resides in America and most of their wealth is gold. The Rothschild family was also residing in America, but they slowly started to go to China because they have BTC. These two families have been in a money war throughout history, in recent years, the Rockefeller surpassed the Rothschild family in gold, and then the Rothschild family invested in technology and discovered crypto. Defeated the rockfeller family in the money war. so an old family runs the whole crypto world.
Thanks for reading, legends are lies made up by those who can't beat BTC in real life.
I know a little about these attacks. And many are just conspiracy theories. A little bit of it makes sense. One of them is 51%.
There was a detailed and beautiful article about the 51% attack. I was very interested, and I did some more research.
It's a 51% chance, but it's an interesting chance. It's like everyone in the world is blinking at the same time. Of course it is possible. No one can say it's impossible. But it is not possible.
So does China manage Bitcoin? I think that there's nothing. Bitcoin is not run by anyone. I mean, adrift.
And that actually makes it accepted by everyone. For example, if something belonged to China, an enemy of China would not like bitcoin. But it's not like that. States can ban it, but the public likes it. I think that makes bitcoin invincible. At least for now.
Maybe a quantum, maybe a simple program. Bitcoin will not disappear. He'll always stay with us.
But here's how the problems will begin. As far as we can see now, Bitcoin is successful in adapting.
What if Bitcoin can't sustain that success? At first we didn't believe it. Or people didn't believe it. But a technology has arrived that will remove money from the throne. Bitcoin.
What if the same happens for bitcoin?
Are we going to keep up with the change or continue like fanatics? I think that's the question that needs to be asked. Technology, population, and need are growing day by day. But the border is always the same. It won't be a problem for us if we keep up with what will replace Bitcoin the way we keep up. Of course, if such a thing happens.
But I personally think nothing is everlasting. Only a new technology or system can destroy Bitcoin.
First of all, we need to understand why China has declared war on bitcoin. As we know, China is the most crowded country in the world and the world's most energy-consuming country in energy use, is this a battle to protect the Chinese stock market or is it a project that someone doesn't like?
It's hard for us to understand, of course. But a country can't stop or undermine a global project like bitcoin by its means. It's horrible to think of a 51% attack.
It's very scary that there could be forces with that power, and of course, the markets are unlikely, but it's crazy to even think about it. And this project, which aims to produce a friendly environment every day, will be one of the lesser issues that even environmentalists express one day, I do not doubt that economic and environmental solutions are more suitable words for this project. The fact that it's a project free of many productions and labor makes it even more spectacular you have to look at it from a different perspective.
Rejecting an easier and more accessible technology in all matters will be meaningless and exhausting for large countries. They will surely understand that we should use it to make our lives easier, both on a country-by-country basis and as humanity, rather than fighting technology. They will also see the contribution of this to the country's economy and the pros of not putting pressure on people. As you said, these questions come to mind first of all, who will benefit from crashing the bitcoin network, and what might be worth the effort and time spent.
So basically a project and this project can breed opposing projects and bitcoin may be in a war, but such a global project is renewing day by day and we can say that a project that is open to development that is growing itself cannot be easily eliminated and the war against it cannot be won, and in every individual who supports this project, it will show that it is not possible by expanding the circle. Such a great technology will of course become such myths of extinction, and I think it is very valuable to write or read an article on such a subject by teaching us that there are many different perspectives and giving us very new information. I give you my eternal gratitude for this article.
It is a very good article to gain different perspectives and scenario interpretations.
Main point, I think there is no longer any need to question Bitcoin's success or explain what it has accomplished. It was the revolution itself. It is clear that the efforts of those who oppose it were in vain.
You summed it up very well in one paragraph, Governments will ultimately find a way to work with it. I agree with you 100%. No ifs, ands or buts.
Thank you for this thought-provoking series of articles.
1-) China has always been an isolated country. They don't want to depend on something instead they want the world to depend on them, and if we look at economical and industrial level it is happening in some extend. Long story short, not just Bitcoin I think they also want to restrain usage of dollars, turning it to a currency which they would be in charge. Most of the world sees the cold war going between USA and Russia, but I think China is the stronger opponent than Russia.
2-) In one of the recent articles Sylvain was explaining why %51 attack is impossible to succeed, the reasons is quite convincing. In theory it is possible but in fact it is far away than possible, there is no power to achieve this after the dispersion from China; yet I still don't think it would be possible with China, mining companies wouldn't let it happen.
3-) Environmentalists are attacking to Bitcoin by claiming the mining procedure harms our planet, but they aren't aware the fact that other monetary systems are the main reason of environmental harm ( I think they are very aware, and they are driven by Bitcoin opponents or they don't have power to fight other systems but Bitcoin).
This is obviously not the case, I find this myth the weakest one among others. The system keeps improving, and it's becoming more eco-positive by time so there's nothing to worry.
4-) Governments are aware of the potential of Bitcoin, it is hard to think contrary. However, I think they aren't keen on growing an interest on it because that would mean losing most of the power they are holding. Could you imagine what would happen to monetary systems if all of the nations would agree in future of Bitcoin? I think they would keep losing the value (as they are losing today) then collapse or they would immediately crash.
As nations cannot put common opinion even on a simple thing, it is not possible for them to unite and restrict Bitcoin altogether.
5-) I have no idea what quantum computing means and what it is currently capable of. This seems interesting. I don't think transition to quantum level would have harm on Bitcoin's current basis since it's upgradable. What I concern is the possibility of a new system that can out-class blockchain technology, therefore Bitcoin.
Thank you for the article. I love myths, and the fact that most of the time they aren't real.
Let's blast these Myths! BTC rules!
To understand Bitcoin is to understand everything in the future world.
China stood against this technology and lost this opportunity to other countries.
North America is now behind this technology. Most of the hash power has migrated to that side.
Now he is with an authority behind him that supports him.
The 51% attack currently appears to be a fanciful argument.
In general, a hash rate of 51%, unaware of all investors.
It is impossible to gather strength together. Already, many companies have undertaken this task, and it is impossible to take such an initiative.
As for the energy used by Bitcoin. The energy used by the traditional financial system, namely banks, is twice that of bitcoin. This is the best alternative even if there is only bitcoin on the market. And it's not just him. Many projects use PoS proof-of-stake, which reduces energy use considerably.
For governments to ban bitcoin technology, we need to bury all electronic devices in the ground.
So we have to go back to the stone age. This doesn't seem possible either.
They want to stop this technology with the same arguments for years. But all your efforts are in vain.
Thanks for the article and information. You have chosen a good topic. I wish you a good day.
These are just things made up to scare the market, people. they can't beat us in real life, so they resort to such ways.
There is only a 51% chance of an attack among them, but it is less likely to happen as the volume of btc grows day by day.
Instead of supporting BTC and keeping up with the change, people are vilifying BTC. The people I'm talking about are banks and money lads.
Since we are talking about legends, let me tell you a legend. The Rockfeller and Rothschild families are the richest families in the world. None of these family members appear on forbes, they are actually richer than those on forbes, but they hide themselves. The Rockefeller family resides in America and most of their wealth is gold. The Rothschild family was also residing in America, but they slowly started to go to China because they have BTC. These two families have been in a money war throughout history, in recent years, the Rockefeller surpassed the Rothschild family in gold, and then the Rothschild family invested in technology and discovered crypto. Defeated the rockfeller family in the money war. so an old family runs the whole crypto world.
Thanks for reading, legends are lies made up by those who can't beat BTC in real life.
I know a little about these attacks. And many are just conspiracy theories. A little bit of it makes sense. One of them is 51%.
There was a detailed and beautiful article about the 51% attack. I was very interested, and I did some more research.
It's a 51% chance, but it's an interesting chance. It's like everyone in the world is blinking at the same time. Of course it is possible. No one can say it's impossible. But it is not possible.
So does China manage Bitcoin? I think that there's nothing. Bitcoin is not run by anyone. I mean, adrift.
And that actually makes it accepted by everyone. For example, if something belonged to China, an enemy of China would not like bitcoin. But it's not like that. States can ban it, but the public likes it. I think that makes bitcoin invincible. At least for now.
Thanks for the nice post.
Maybe a quantum, maybe a simple program. Bitcoin will not disappear. He'll always stay with us.
But here's how the problems will begin. As far as we can see now, Bitcoin is successful in adapting.
What if Bitcoin can't sustain that success? At first we didn't believe it. Or people didn't believe it. But a technology has arrived that will remove money from the throne. Bitcoin.
What if the same happens for bitcoin?
Are we going to keep up with the change or continue like fanatics? I think that's the question that needs to be asked. Technology, population, and need are growing day by day. But the border is always the same. It won't be a problem for us if we keep up with what will replace Bitcoin the way we keep up. Of course, if such a thing happens.
But I personally think nothing is everlasting. Only a new technology or system can destroy Bitcoin.
Thanks for the article.
Have a nice day.
Myths or scenarios... It's good to read, but I don't really believe in them. Some things have to be accepted as they are... Bitcoin is one of them.
Thank you for the article!
First of all, we need to understand why China has declared war on bitcoin. As we know, China is the most crowded country in the world and the world's most energy-consuming country in energy use, is this a battle to protect the Chinese stock market or is it a project that someone doesn't like?
It's hard for us to understand, of course. But a country can't stop or undermine a global project like bitcoin by its means. It's horrible to think of a 51% attack.
It's very scary that there could be forces with that power, and of course, the markets are unlikely, but it's crazy to even think about it. And this project, which aims to produce a friendly environment every day, will be one of the lesser issues that even environmentalists express one day, I do not doubt that economic and environmental solutions are more suitable words for this project. The fact that it's a project free of many productions and labor makes it even more spectacular you have to look at it from a different perspective.
Rejecting an easier and more accessible technology in all matters will be meaningless and exhausting for large countries. They will surely understand that we should use it to make our lives easier, both on a country-by-country basis and as humanity, rather than fighting technology. They will also see the contribution of this to the country's economy and the pros of not putting pressure on people. As you said, these questions come to mind first of all, who will benefit from crashing the bitcoin network, and what might be worth the effort and time spent.
So basically a project and this project can breed opposing projects and bitcoin may be in a war, but such a global project is renewing day by day and we can say that a project that is open to development that is growing itself cannot be easily eliminated and the war against it cannot be won, and in every individual who supports this project, it will show that it is not possible by expanding the circle. Such a great technology will of course become such myths of extinction, and I think it is very valuable to write or read an article on such a subject by teaching us that there are many different perspectives and giving us very new information. I give you my eternal gratitude for this article.
Good day.
It is a very good article to gain different perspectives and scenario interpretations.
Main point, I think there is no longer any need to question Bitcoin's success or explain what it has accomplished. It was the revolution itself. It is clear that the efforts of those who oppose it were in vain.
You summed it up very well in one paragraph, Governments will ultimately find a way to work with it. I agree with you 100%. No ifs, ands or buts.
Thank you for this thought-provoking series of articles.
Here's my thoughts about these myths:
1-) China has always been an isolated country. They don't want to depend on something instead they want the world to depend on them, and if we look at economical and industrial level it is happening in some extend. Long story short, not just Bitcoin I think they also want to restrain usage of dollars, turning it to a currency which they would be in charge. Most of the world sees the cold war going between USA and Russia, but I think China is the stronger opponent than Russia.
2-) In one of the recent articles Sylvain was explaining why %51 attack is impossible to succeed, the reasons is quite convincing. In theory it is possible but in fact it is far away than possible, there is no power to achieve this after the dispersion from China; yet I still don't think it would be possible with China, mining companies wouldn't let it happen.
3-) Environmentalists are attacking to Bitcoin by claiming the mining procedure harms our planet, but they aren't aware the fact that other monetary systems are the main reason of environmental harm ( I think they are very aware, and they are driven by Bitcoin opponents or they don't have power to fight other systems but Bitcoin).
This is obviously not the case, I find this myth the weakest one among others. The system keeps improving, and it's becoming more eco-positive by time so there's nothing to worry.
4-) Governments are aware of the potential of Bitcoin, it is hard to think contrary. However, I think they aren't keen on growing an interest on it because that would mean losing most of the power they are holding. Could you imagine what would happen to monetary systems if all of the nations would agree in future of Bitcoin? I think they would keep losing the value (as they are losing today) then collapse or they would immediately crash.
As nations cannot put common opinion even on a simple thing, it is not possible for them to unite and restrict Bitcoin altogether.
5-) I have no idea what quantum computing means and what it is currently capable of. This seems interesting. I don't think transition to quantum level would have harm on Bitcoin's current basis since it's upgradable. What I concern is the possibility of a new system that can out-class blockchain technology, therefore Bitcoin.
Thank you for the article. I love myths, and the fact that most of the time they aren't real.
I'm gonna bookmark this article and have it handy to send to every BTC naysayer I come across. Thanks