We are talking about two very different concepts here.
In the arguments I am making, I am referring to the success of Bitcoin as the success of a censorship resistant monetary technology, while you seem to be referring to the success of Bitcoin as an arbitrary Dollar number.
I would argue that the majority of Bitcoin holders don't really care about censorship resistance at this point, they care about the Dollar value – meaning that changes undermining Bitcoin's censorship resistance would likely be little opposed by economic actors (many have in fact already spoken out in favor of things like sanctions), therefore *not* reducing the price of BTC.
Your argument therefore should actually go the other way around:
Why should someone decide _against_ keeping their money on the dominant value chain to protect censorship resistance, when a fixed market cap – not censorship resistance – is considered BTC's value proposition by the majority of economic nodes?
Login to reply
Replies (3)
That makes more sense, then. I didn't catch on that you were talking about changes in censorship resistance. I agree these are less likely to be opposed than ones that affect other monetary properties. You should make it clear that it was you're referring to because it seems there is some confusion around it 👍
Those Bitcoiners caring about censorship resistant money, left for Monero. Bitcoin is now about NGU.
Absolutely. This.
View quoted note →