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Yeah, it being built upon a decentralized multiple transaction-ledger means that no singular nation's treasury has control over its value. It's also actually great for law enforcement because removing a transaction from the history is incredibly difficult, places that offer "private" transactions just create thousands of fake transactions to hide the real one inside, but the evidence still exists.
One of the largest BTC owners on earth is the USA's FBI who have confiscated tons of the stuff used in illegal activity.
EDIT: Noteworthy is that BTC is far from the most efficient tool for this exact use case. Not all blockchains are equal in power consumption for example, Ethereum apparently uses far less per transaction.
On Ethereum using less: this is due to a different consensus mechanism involved, one that is more eco-friendly, but less distributed and inherently (mathematically) less secure.
Generally, it should be fine on the scale of Ethereum, but Bitcoin has it safer, at the cost of plenty of power and e-waste.
True
False. 888k Ethereum validators. 80k Bitcoin Nodes
Not sure what angle this is coming from, but about 10k validators are needed to secure Ethereum. In BTC all it takes is for Antpool and Foundry to team up and you are above the 51% threshold.
That same 51% attack can occur on Proof-of-Stake, except you could immediately rewrite anything and also rob legitimate nodes of their stake, for all I understand.
Momentary 51% of Proof-of-Work merely makes it possible to extremely slowly rewrite the neighboring blocks. As most Bitcoin transactions require many "confirmations" (blocks coming after the one with the transaction), the attack realistically needs a very big scale (ideally significantly more than 51%, it's just theoretical minimum), rely on serious level of luck and, through the open ledger, it will be extremely easy to detect.
You can't really rewrite old blocks with PoS, and your attack gets weaker over time as your invalid blocks are proven to be false.
https://vitalik.eth.limo/general/2020/11/06/pos2020.html
Curious. Will take a closer look, thanks.
Absolutely not the best. just the best adoption rate due to being first. Also because buying any other crypto usually involves step 1: buy bitcoin and step 2: trade for whatevercoin.