Does #Bitcoin have a long-term future?
(long thread, 1/24)

I thought I might as well air some worries, which might be common but unarticulated among crypto newbies like me.

These worries center around BTC's medium-term vulnerability to propaganda attacks & psyop hacks...

2. I accept that bitcoin is technically brilliant, politically visionary, globally empowering, maybe the future of money, etc etc. Hopefully we'll use something like BTC when we colonize the galaxy, long term.

And BTC might still be a good investment short term.

However...

3. Insofar as crypto threatens US dollar hegemony as a global reserve currency, the higher BTC's market capitalization gets, & the more of a legit threat it becomes, the more incentive US and US-affiliated gov'ts have to try to crush it.

What will they do?

4. Govt's could try to crush bitcoin in ways that 'play nice' using legal means -- regulating it, taxing it, imposing capital controls, etc. If that doesn't work, they could escalate by banning banks, pensions, corporations, and individuals from trading it or holding it.

Or...

5. Govt's could play dirty. They could crush bitcoin with propaganda attacks & psyops rather than regulation. Propaganda is often much cheaper, faster, & often more effective than legal regulation/coercion. It seems like any number of psyops could easily destroy demand for BTC...