16 Dec It boggles my mind so many of us are cheering on traditional institutions buying unfathomable amounts of BTC, instead of being vigilant and wary.
There is simply too much greed and too little sense.
BTC survived 2017’s attempted coup, but that will not be the last time they try. And next time, those attempting the coup will be much more sophisticated, with deeper pockets, a thorough understanding of BTC’s protocol and its weaknesses, a paid army of programmers and private keys to large quantities of BTC, if not the majority of it. For all we know, someone somewhere already has a plan and is laying the groundwork for it. I say this because even though code and math cannot be bought, corrupted, imprisoned or executed, the people and institutions that write them can.
The closer we are to the moon, the more dangerous and treacherous the road gets. We need cautious optimism, rather than allowing our greed to lead us to blinding euphoria.
Which is more important; that we individually become wealthy, or that we collectively have BTC endure in this world?
More vigilance, less trust.
Wow, didn’t expect so much discussion! Thanks for the awards, kind strangers! This community is great. And against my own advice, cheers on 20k, lol! (hey, I never said I was perfect).
To those who are asking what we can do to stay vigilant, or what we can do against huge banks buying BTC, these are a few ways you can make BTC stronger:
- learn and run a full node;
- learn about the base protocol, how concensus works, and what makes it all possible. That way, if malicious changes are proposed again, we can rally against them as strongly as we did in 2017.
- Get your coins out of exchanges and take on the real risk of self-custody.
- Continue engaging with the community.
So on and so forth. Cheers!