Hi there fellow Bitcoiners,
I was pondering about Bitcoin and it's network. I'm getting deeper and deeper into Bitcoin and moving away from all the "new and improved coins" that emerge every single day.
I started running Umbrel with a Bitcoin Node and Lightning (which makes transactions awesomely cheap). So i'm getting in deeper and deeper into "the one coin that rules them all".
But there is a question stuck in my mind for a long time and what better way then to ask here.
The What if, and let's assume that we are not talking about 1 or 2 mining farms or nodes but for the sake of it, let's make it a 80-90% case.
So what if 80-90%:
- What if miners power down due to regulations
- What if miners power down due to the rise in electricity bills (the government could make mining super expensive because it's "not green".
- What will happen if 2 of the above take place?
- What if ALL mining is banned with a worldwide hunt on miners. What will happen to the network? Nodes alone can't process the transactions.
- What is the "crackdown" on big miners in a joint force attempt to ban Bitcoin (to force CBDC's on people). Miners shutdown and the "New World Order" does a 51% attack.
I keep reading that Bitcoin is the one true option against the money printer due to it's fixed cap. I keep reading that the network is super secure above other chains. This is true, until the above happens.
After years of reading about it, trying a whole lotta different crypto i keep coming back to btc. And the above situation is something i can't find anywhere to be answered.