Quote from: BALIK on September 23, 2024, 03:05:19 AM

Quote from: o48o on September 22, 2024, 08:03:59 PM

I thought that they had just confiscated it like other countries, but they are freaking mining it? That's pretty wild, however i am not that confident that getting governments mining bitcoin is a good idea. These countries policy for mining can change over night with elections, and dumping / market suppression is a real threat.

It seems like you only like to look at the negative side of things. Why can't you look at the positive side like everyone else, the fact that governments mine or hold bitcoin shows they also see its potential and importance? Besides, even if we don't like it, what can we do and what good is complaining?

Like Bitcoin ETFs, many people don't like it because it makes Bitcoin centralized but how to prevent all this? How to prevent governments from interfering with bitcoin as it becomes more and more popular? Do you have any solutions? Instead of complaining constantly but still having no way to stop them, we should adapt.

Quote from: o48o on September 22, 2024, 08:03:59 PM

And i doubt that many countries would go this road, as putting this much weigh on critical infra like electricity and depending on the income of that is risky as hell. Especially with countries like venezuela, that would risk their grid that's already unstable enough. And since electricity isn't cheap, it needs special conditions like mining occasionally with waste energy. That could actually work.

Just because you doubt it doesn't mean it won't happen, as iBaba said above: Rome wasn't built overnight. Look at the positive side and expect it to happen instead of doubting and complaining because that doesn't help.

How i was being negative? I already mentioned that it's wild that they participate to mining, which i see as a sort of positive thing. I see positivity when there's positivity. I only have problems with whales hoarding it, and i see it problematic when governments are becoming whales. But please explain how more of this positivity helps, when something just mainly affects to the pump-a-nomics of bitcoin?

Let me quote myself from earlier thread so i can elaborate my view on this and governments being involved:

Quote from: o48o on September 22, 2024, 09:13:36 PM

Actually i find it weird how many people are hoping and praying that governments and leaders are doing the right things for it. It's like we are dependable on the government intervention, just to push the price to moon, and hell with the original idea of it.

And that why so many people don't seem to care, that we are now waiting price to be controlled by government blessing for it or banning it. I don't really have a solution or any scenario where it wouldn't be, and i accept this development, knowing full well that that means i don't in my core really believe in decentralization, but i thought that more people would be worried about this.

Bitcoin should be not depending on any of that as the very reason it exists is because it was supposed to be resilient against government intervention. And now we are counting on presidents to pump the price? What happened? Why people suddenly want to be dependable of such actions? Only thing i can see that we are being just greedy over the use cases it was originally designed for.

Maybe you can see from that point i am making. It's not that i am against it, i am more of nihilistic about this then idealistic and that means that i accept to work with regulations rather then fighting them, even though they can dismiss the underlying fundamentals / benefits the bitcoin had and the reason it was created. I don't however hope and pray for governments or leaders to be involved, and i don't get why so many are.

I really thought that underlying ideology behind the cryptocurrency holders had, would be idealism of self-custodity and freedom. But i guess they are as nihilistic about this as me, and instead of believing in decentralization they are just using it as a buzz word. Imho if we rely on governments on bitcoin mooning, then the price is based on nothing but promises and compliance. And i can't see those having anything to do with the fundamentals of bitcoin.