VIDEO TRANSCRIPTION
aantonop
Attacks on Bitcoin? Don't Worry; Bitcoin is Unstoppable! (But that doesn't mean we'll do nothing)
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Transcription generated by Skrybot
Thicus asks, when Bitcoin is under attack, some people just say, don't worry, Bitcoin is unstoppable. I see their point, but could this inaction be dangerous in the end? Yes, I would agree. But I think the answer, don't worry, Bitcoin is unstoppable, doesn't mean do nothing. What it means is from a technical perspective and given a social response, Bitcoin is very difficult to damage through all the attacks that we're seeing right now. Right now, the vast majority of the attacks against Bitcoin are social attacks. There are attacks in the media, there are attacks with propaganda, there are attacks with tax legislation and accounting legislation and regulations in the banking system.
They're not attacks against the actual protocol or the miners or anything like that. And from that perspective, in those types of attacks we're seeing right now, they're not really effective in the long run, because every time Bitcoin survives one of these attacks, it feeds the narrative of unstoppable, which makes it more appealing to people. So the point is that saying, don't worry, Bitcoin is unstoppable, also serves a purpose. The narrative of unstoppable becomes a self-fulfilling prophecy when the attacks are ineffective. Now, if we saw directed attacks against mining or against the network protocol or attempts to ban it, then we would need to make technical changes.
We would need to either make them if we're developers or adopt them if we're node operators in order to thwart these attacks. And there are plenty of technical changes that are possible to make Bitcoin more stealthy, to make the operation of nodes more stealthy, to protect Bitcoin against attacks, to further anonymize it, to increase its privacy, etc. Part of the reason there's no desire to implement those things today is because the attacks aren't really having the intended effect. And when attacks are not having the intended effect, that means there's no reason to build a defense.
That doesn't mean there are no defenses or that people are simply going to sit back complacently and not do anything. What can I say, Ficus, against this other than as my answer? Don't worry, Bitcoin is unstoppable. But that doesn't mean don't do anything if people try to stop it. I hope you enjoyed that video. If you'd like to support me in my mission of educating people about Bitcoin and open blockchains all around the world, and publishing free content under Creative Commons licenses, please consider sharing this video, as well as supporting me on Patreon. com slash A-A-N-T-O-N-O-P. Thank you. .
S K R Y B O T
Skrybot. 2023, Video transcriptions from YouTube
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