Re: Is it okay for Bitcoin Core development to be funded by Banks?
If Bitcoin core development is the government priorities it should cause concern of course to crypto enthusiasm. I had the believe that anything in the world can be manipulated until bitcoin came into existence and gave me a reason for doubt. Yet, the strive to remove decentralization for bitcoin entirely never sees to end. It all started when the rich tend to put so much money into bitcoin in order to manipulate the sea so that it sails towards their direction. Now the banks which has central authority has added more to these issues. My greatest happiness is that they cannot manipulate the total supply, the price directly and the anonymous nature so bitcoin remains an asset that is uncontrollable.
Of course. Bitcoin's supply can't be manipulated by anyone. Of course, this would be subject to the network's consensus mechanism. But what if the "Elite" manages to acquire most of the network's hashrate? Then, it will be possible to change the Blockchain's rules with ease.
At this point, I believe it's impossible to do such a thing. Especially when getting ahold of 51% of the network's hashrate will require a hefty sum of money. The cost will be greater than the benefit. Therefore, banks funding Bitcoin Core won't have any negative impact over the cryptocurrency's principles in the long run. It will remain decentralized, immutable, and censorship-resistant as usual. Considering that Bitcoin is the future of money, there's a possibility world governments will adopt it as their own. El Salvador did it, while Argentina is next on the list to do so. Who knows if Fiat becomes history soon?
