Jorozey said:
https://braiins.com/blog/how-much-w...coin#toc-measuring-1-hour-cost-of-a-51-attack
https://www.coindesk.com/tech/2020/02/20/no-concentration-among-miners-isnt-going-to-break-bitcoin/
I would recommend you read these two articles explaining your concern about the 51% attack on the Bitcoin network. Such things should not concern us at present.
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If you hold fiat noone can take you your cash away if you have it in a safe place" - I agree, the privacy of the money in your pocket is one of the last freedoms you have left. I am PRO physical cash, I pay everywhere and for everything with cash, but look around, THEY are creating and pushing a cashless society, laying the foundations for CBDC and they will start as the equivalent of "food stamps" under the guise of UBI (Universal Basic Income ) or "stimulus checks".
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The group holding majority of coins dictate the price and can tank it anytime they want..." - Trust me these people are not selling on exchanges, they are doing OTC trades. Exchanges don't have enough liquidity to absorb their sales, only MM(market makers) make such big volatility in the market to rob retail traders positions playing with high leverage.
"JP Morgan was accumulating already in 2010 so who do you think controls bitcoin ?" - does not matter, all network participants controls the network, you can start too and run your own Bitcoin Node
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"Who even created the code ?" - that's what makes it such a sweet high-risk asset, a trillion-dollar answer, who knows.?!
"Its nothing more than a marketing gag to make a smoother transition to CBDC's" - you are not the first to claim it, many suspect the same and CBDCs are literally the hill worth dying on fighting this change they will force on us under the pretext that it is for our convenience (or coercion) "Digital Currency" is an absolute lie. Our euros and dollars have long been digital. However, what is meant here is PROGRAMMABILITY!!!!
Central banks will control this token even when it's in "your possession" It's not hyperbole, it's pure EVIL.
I have been involved in cryptocurrencies since 2014 and have seen all possible scenarios of what CBDCs will enable. And we're not just talking about the lack of individual freedom and privacy here, we're talking about the ultimate means of control even over governments.Imagine the European central bank, will dictate the political and social issues in Bulgaria or Germany, France, etc., having full control over the monetary policy of the state and the funds of the citizens, the business and the national bank. And most people don't even know where the ECB is
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In 2025, 95% of all Bitcoins that will ever exist will have already been mined. In 2035, 99%. After 2035, the remaining 1% will take miners more than 90 years to fully mine the entire amount of Bitcoins.
Rules embedded in the code.
Code = law!
Don't take all of this as an attack, I respect your opinion, everyone has their own view and position and it's good to defend it.
Bitcoin is designed to withstand even a nuclear war, it only takes 2 computers and a radio frequency connection (you don't even need the internet) to generate and transmit blocks.
Bitcoin is our only weapon in this war. Use it.
Also it's a rare chance to build wealth for generations to come.
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