Sorry for the dramatic clickbait, nothing like that has happened yet to my knowledge. Still, as a relatively uninformed Bitcoin holder, having been thinking about risk factors for a long time, this is my current assumption for what the main fatal risk scenario would be for Bitcoin, and I wanted to ask the community for feedback. Am I completely off here? Have you been scared by the headline? If so, ask yourself why.
Let's say it's 2028, BTC market cap is at 6T, and it's becoming really inconvenient for US monetary interests. Since Wall Street is all in already, Washington can't just outright ban Bitcoin, but they were smart enough to start a task force inside the CIA a few years earlier. This team had infiltrated the inner circles of the BIP process, in order to plant code in a trustworthy way. They had worked for years to produce a few lines of code that looks genuine and useful, but contains a hard to spot flaw that enables an exploit. When the right opportunity arises, they plant it into a BIP. The proposal is submitted by the already trusted person who has been part of the inner circle for years. They let the project rest until adoption rate is high enough among nodes, then trigger the exploit and increase the block reward to infinity. They simultaneously launch a PR campaign about Bitcoin's supply having exploded due to a bug, therefore the network lost all the hard properties that gave it its power.
Like I said, I'm just a noob with a small bag of BTC and some worries that I hope you may be able to put to rest. I might not know what I'm talking about, I definitely have no idea how the BIP process works, but I do have plenty of experience with software, and one thing I'm sure of is that *soft*ware is definitely not *hard*. So I'm a bit concerned about the idea that the hardest asset ever is supposed to be based on software. People keep saying that there will only ever be 21M Bitcoins. But can we actually be sure of that long term?
Unless I'm misunderstanding something fundamental, it seems to me that every single BIP update is a potential source of catastrophic failure. I know that Bitcoin is being updated extremely cautiously and conservatively, but unless updates are at zero, if the value of the network is expected to threaten the bond markets of major superpowers, I don't see how the hardness of software can hold the line ad infinitum.
Looking forward to your arguments whichever way it goes!
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