Author: s7r 2015-09-20 21:33:38
Published on: 2015-09-20T21:33:38+00:00
The message discusses the need for Bitcoin to have a larger user base, more use cases, and increased popularity in order to prevent governments from banning it. The author argues that an outlaw currency is useless even to outlaws and that if governments ban Bitcoin, it will become useless. The general threat model is to scale with a larger user base and more use cases without allowing any actor to control more than they should. The author suggests that Bitcoin needs to be legit, have normal use cases, and be as popular as possible. The perceived "control" by a small group of developers and miners is discussed, along with the perception that governments are the proper threat model. The author cautions against moving towards crypto-anarchy and emphasizes the importance of following rules and laws. Lastly, the risk of losing users and merchants in jurisdictions where Bitcoin is banned is highlighted.
Updated on: 2023-06-10T22:35:18.802171+00:00