What might happen if China declared war on Bitcoin?
https://weisscryptocurrencyratings.com/news/might-happen-china-declared-war-bitcoin-1547
Something you'll definitely find interesting in it if you're a supporter of Cardano!
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Would it give competing cryptos like EOS, NEO and Cardano more room to grow?
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Proof-of-Stake (PoS) coins like EOS, NEO and Cardano would be among the main beneficiaries.
Reason: They use PoS mining, which mostly addresses these issues:
First, PoS ledgers make “miners” and “token-holders” one and the same. As a result, you will never see a situation in which one side owns the currency while an opposing side secures it.
Second, transactions are final and cannot be reversed. This is achieved with what’s called “Byzantine Fault Tolerance.” Thus, even if a malicious actor could acquire the computing power to attack the network, they would still not be able to rewrite the history of the ledger. Yes, they could break in. But to no avail because they would be unable to steal a darn thing.
So Proof-of-Stake cryptos could be among the beneficiaries of any sovereign-nation threat to Bitcoin.
Reason: They use PoS mining, which mostly addresses these issues:
First, PoS ledgers make “miners” and “token-holders” one and the same. As a result, you will never see a situation in which one side owns the currency while an opposing side secures it.
Second, transactions are final and cannot be reversed. This is achieved with what’s called “Byzantine Fault Tolerance.” Thus, even if a malicious actor could acquire the computing power to attack the network, they would still not be able to rewrite the history of the ledger. Yes, they could break in. But to no avail because they would be unable to steal a darn thing.
So Proof-of-Stake cryptos could be among the beneficiaries of any sovereign-nation threat to Bitcoin.
so i let it rest and let technology speak for itself.