You're describing the hash war phase. The network will not work as advertised, but only for a certain period of time until either the state or the market capitulate. Here watch this:
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Right. As I said, its a legitimate threat until we get to that phase.
It's another front of state KYC/AML laws designed to undermine bitcoins censorship resistant properties.
And they're being generally successful.
Yeah there's definitely a war coming
@thejohn zapped ⚡️11,011 sats
"This is the most under-rated Bitcoin video - should have 1M+ views. It is excellent!."
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