Hello Waldo,

Thank you for the thought experiment. Here are my thoughts.

1 "... how would (World Government) convince ~ 100 000 nodes (most of which are private and not in plain sight) to roll back previous blockchain transactions?"

The nodes are all programmed to accept the blocks confirmed by a majority of the miners. Unless Bitcoin core software is rewritten, all the nodes will automatically adopt any version of the blockchain broadcast by the majority of miners. I don’t see any problem here.

2 "Mempool — which affords the 49% People Power mining pool to pick up these abandoned transactions and block. Nodes will (have to) accept blocks from either pool — as long as the Bitcoin rules have been followed."

Yes. This is the problem -if Dr Doom wants instant 100% control, then controlling a simple majority of the miners isn’t the way. However, Bitcoin has already been running for 13 years so Dr Doom may be willing to allow some unwanted transactions on the block chain for awhile. His 51% control will lead to total domination before the year is up. Two things work against free humanity. A. Miners for Free Humanity will get a lower% and a steadily declining % of the block rewards, and B. Miners for Free Humanity will get a lower and a steadily declining % of their transactions confirmed on the blockchain.

A. If Dr Doom is winning block rewards 51% of the time and free humanity is winning block rewards only 49%, that 2% differential will impoverish free humanity just as surely as Free Humanity is impoverished when it bets at Vegas for a few months. On certain games in Las Vegas, the house maintains only a 2% advantage. Over the long term that advantage wins every time. A 2% mining block reward advantage means that the least efficient, least profitable miners for Free Humanity will shut down as their operating costs exceed revenue. This will lower free humanity’s hash rate % and increasing Dr. Doom’s Hash rate %.

The reduction of profitability faced by free humanity then accelerates. Free humanity’s share of the hash rate will decline more rapidly from 40% to 30%, then it declines from 49% of the hash rate to 39%. The lower Free Humanity’s % of the hash rate goes, the quicker it declines.

B. Only the transactions from successful blocks are confirmed on the Blockchain. As Free Humanity’s % of hash power declines, so does the % of transactions that it can confirm. Eventually, multiple transactions proposed by Free Humanity’s nodes are returned to the mem pools. Fees are raised in order to confirm Free Humanity’s transactions, and submitting transactions not approved by Dr Doom becomes increasingly unreliable. More and more fail to make it into successful blocks. They just sit in the mem pool until discarded -every 48 hours.

3 . GPU mining “home users with graphics cards will once again have the ability to compete by specifically picking unapproved transactions from the Mempool to block.”

Waldo, it has been suggested that the Bitcoin code should be rewritten so that GPU’s can again mine, thus make mining more distributed. But as it stands, the majority of hash power controls the block chain and GPU’s are currently meaningless in terms of hash power. Unless the code is changed, it is exceedingly rare that a GPU can produce a successful block. Without changing the code GPU's have such low hash power they are a waste of time and electricity.

4 . "Disabling lightning networks How would you disable thousands of lightning networks running as “sidechains” of the main Bitcoin blockchain?"

Dr. Doom has no concern about the Lightning Network. He now controls the Bitcoin mainchain. He knows that the tiny fraction of bitcoin pledged to the lightning network can go nowhere. They cannot be bought, sold, or even moved off lightning without access to his Blockchain. Dr. Doom will apply his coercive power to obtain those few bitcoins later. For now, they are a less than a nuisance.

5 "Capital and political cost At some stage, you’d have to (re)convince your generals and patrons that this war footing with Bitcoin is worth the significant cost of prosecuting the war — given the fact that you could just really just print the fiat you need, buy every bitcoin that is mined and lock it to cold storage. Cheap & simple."

Waldo, it seems to me that buying all Bitcoin mined is a major subisdy destined only to sky rocket the prices demanded by miners. If they know their BTC will be bought $50k, why not ask $100. If govt is buying at $100k, they'll ask $200k. This price appreciation should be suppressed, not financed.

But their are no ongoing costs to using back doors? The back doors were installed in the past at the manufacturers and are still being installed in all new ASICs. There are no additional costs. The few hundred million paid to ASIC manufacturers in bribes and extortion was expensed years ago.

Now Dr Dooms control of the Block Chain allows automatic collection of capital gains tax on all Bitcoin everywhere. This is a serious profit-making enterprise. And ‘lock it to cold storage’? Perish that thought!

Dr Doom wants Bitcoin in the public's hands. Remember the ultimate goal is complete control of everyone. Please, do use Bitcoin. It is an immutable record of all transactions. With control of the Bitcoin blockchain Dr Doom can see the disposition of every Satoshi, he can blacklist anyone’s transaction at any time. Dr Doom, has become supreme financial dictator of the world through skillful manipulation of his govt puppets.

We already know that back doors exist in ASICs https://blog.bitmain.com/en/antminer-firmware-update-april-2017/

However, I believe that Western Governments will use simple regulation to completely control all Bitcoin, globally.


Thanks again for your insights Waldo. Best to you.



Voluntarist, Agorist, not Pacifist. Don’t Tread on Anyone. Rely on Hard Assets, Hard Principles, and Hard People

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