sashimi-houdini

#notallhoudinis

Relevant xkcd: https://xkcd.com/538/

"Not your keys, not your crypto" -- but only in the minds of "crypto-enthousiasts" that's a feature rather than a bug

I couldn't help but chuckle at the text "size of bubble = bitcoin mining power" at the top of the charts... one wonders if it is intentional

I prefer the term "Proof of Waiste" ("PoW")

Truly art for art's sake this, and such a beautiful mirror on Bitcoin: I could feel the warmth of a thousand miners coming from my laptop while opening this.

Yes it does. And if/when a large enough player finds it in their interest to mount such an attack, they might very well do it. See https://www.crypto51.app/ for a (somewhat outdated) price chart.

Remember the first law of cryptocurrency though: "in case of emergency, betray your core principles."

In the event of such an attack, the rest of the system (miners, developers) may be able to simply declare the "evil" side of the fork "untrue" and hardcode the other fork as true. The fact that this is exactly opposite to Bitcoin's stated goals is no problem at all. See e.g. Ethereum's response to the "DOA Attack" as an example.

... because it reduces the power China has over Bitcoin

... because it attracts new players to the mining game

... because it will make the argument that bitcoin is bad for the environment weaker

I agree, the "any news is good news" is a fun game to play.

It only "worked" by not actually being useful as a globally distributed currency for microtransactions (which was the original promise)