This is an opinion editorial by Interstellar Bitcoin, a bitcoin pleb.
In a hypothetical world, imagine we are trying to stop Bitcoin. Why might we do it? How would we do it? What actions would we need to take? Where would this get us? To answer these questions, we first must talk about Bitcoin in a little more depth.
“If you know both yourself and your enemy, you can win a hundred battles without a single loss.” — Sun Tzu
Bitcoin is an idea. It is technology that provides property rights, rule of law, economic freedom, free markets and, ultimately, sound money to the individual.
Bitcoin is a fixed supply ledger, defining who owns what and enabling people to transact peer-to-peer. Its ledger is enforced by proof-of-work, a consensus mechanism that utilizes energy in a way that removes inefficiencies and creates abundance.
Fundamentally, Bitcoin is information and math, thus banning it would have wide implications.
We’ve outlined what Bitcoin is. So why ban it?
Control.
Control over the ability to print money and the resulting Cantillon effect. Control over what energy usage is “morally acceptable” and what is not, such as via “ESG” (environmental, social and governance) mandates. Control over a populace. Total authoritarianism.
[embed https://www.youtube.com/watch?v=nOh-7SzI6gM
We’ve got some reasons why someone might ban Bitcoin, but how would they do it?
Stage One
Unfavorable tax status for bitcoin.
Stage Two
Unfavorable regulation, ban the use of Bitcoin technology (aka make math and information illegal), internet censorship.
Or: Promote centrally controlled shitcoins that use proof-of-stake and banning proof-of-work. This is an alternative to try to subvert Bitcoin by promoting software that can be controlled by insiders.
Another alternative: censoring Bitcoin blocks and network spamming. This is a direct attack on the Bitcoin network that harms usability.
Stage Three
Energy shortages, internet outages, food shortages.
Stage Four
Mass genocide of…
