The Balkanization of Bitcoin: The Next Attack on BTC Is About Mining Provenance
From Iran miner control to “OFAC compliant blocks,” a new attack vector has emerged.
May 7, 2021
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ABOUT
From Iran miner control to “OFAC compliant blocks,” a new attack vector has emerged.
This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.
Today on the Brief:
- Square puts up monster Q1 bitcoin numbers
- First crypto comments from new SEC Chair Gary Gensler
- 3 new institutional bitcoin developments
Our main discussion:
As bitcoin becomes more mainstream, the attempts from the powers that be to control it will become more subtle. This week, NLW argues we got a preview of a new approach to trying to exert that control. He argues there is a new attempt to Balkanize Bitcoin and looks at:
- Iran banning crypto that wasn’t mined in the country
- Marathon mining an “OFAC-compliant” block
- Kevin O’Leary insisting on only owning bitcoin not mined in China
See also: Iran’s Central Bank Reportedly Bans Trading of Crypto Mined Abroad
Image credit: Allexxandar/iStock/Getty Images Plus
HOST
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
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