Post
Topic
Board Bitcoin Discussion
Re: I don't like the idea of governments holding millions of Bitcoins.
by
Abiky
on 03/09/2025, 19:13:22 UTC
Tampering with Bitcoin’s censorship resistance would be extremely difficult. It would basically require buying off or influencing a majority of developers and somehow changing the consensus rules or mining algorithm. Considering how decentralized and transparent the system is, that’s almost impossible to achieve. That’s the main reason censorship resistance is one of Bitcoin’s strongest features and why its value and concept is so different from a centralized system like PayPal.

Bitcoin is censorship-resistant for now. But what if big companies, governments, and institutional firms run their own nodes and/or miners? Since they have a lot of capital and resources, they can make a big difference on the network. And with mining pools being centralized, we should expect the worse.

I believe solo mining is the only decentralized way to truly-defend Bitcoin against a 51% attack. But I could be wrong. Developers can come up with a solution to prevent mining pool centralization, though. That way, Bitcoin will be more resilient against manipulation from "big players". Governments and institutions are amassing a large portion of the circulating supply with the hopes of "owning" it all. So long as the rest holds a greater portion of the supply, there should be nothing to worry about.