I Am Ready To Transfer My Life Savings Into Your New Bank, Mr. (real) President.
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MAGA
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Fuck bitcoin. For one, it's controlled by China miners. For two, it's insanely volatile. The price has crashed multiple times.
And finally, speaking as a tech guy, don't think the tech industry in conjunction with government can't kill Bitcoin, because they can. Easily. If they decide to filter or poison the traffic, no more transactions, and no more Bitcoin. Bitcoin is completely dependent on the freeflow of Internet traffic. All your money gone poof! just like that.
If you want to play around with money you don't need, knock yourself out, but you're a fool if you keep a significant amount of your savings there.
You don't understand bitcoin at all. A single entity would have to own over 50% of all total bitcoin, or 51% of all the computing power to have "control" over it, and that's practically a statistical impossibility at this point. There's a reason Biden has already put in place plans to attack cryptocurrency, and it's because crypto is the single most effective way to deny wealth distribution (socialism/communism). Ten years from now, you'll have wished you put even a few hundred dollars into bitcoin. It's going to be like gold, but gold the commies can't come and pry up your floor boards to steal from you.
Sorry, man, but you really don't understand the technical underpinnings. You're looking at it conceptually ("A single entity would have to own over 50% of all total bitcoin, or 51% of all the computing power to have "control" over it") and I'm talking about making it impossible to perform transactions.
Without the ability to trade, Bitcoin is worthless. The entire thing is just numbers in a ledger, with everyone sharing the same ledger. If you prevent people from transmitting transactions or prevent verification of transaction, you've killed Bitcoin.
There are numerous technical ways to make it very difficult to trade bitcoin. Can you make it absolutely impossible? No, but they don't have to do that. They just have to make it bad enough that it scares nearly everyone away from it.
They used to say that shutting down Bittorrent movie piracy was impossible. You know how they killed it? THE ISPS SCAN FOR BITTORENT TRAFFIC AND RAT YOU OUT TO HOLLYWOOD. I've actually received warnings from my ISP about disconnecting my Internet. I don't download movies anymore. Did they kill the entire concept of movie trading? No, people still do it, but it's 1% the size of what it was.
Bitcoin survives only because the government hasn't decided to shut it down. Given how much illegal money is being used, I personally think it's only a matter of time, but who knows? But guess what happens if they get solid proof that terrorist money is moving through Bitcoin.
Sorry man, but you don't understand the technical underpunnings.
You can't stop bitcoin, the miners determine when and how a block is made. You literally can't block the traffic. Someone could try and it would take a few hours for the network to enforce encrypted connections and it would continue on.
They also can't stop bit torrents. They're alive and well and over 80% of the total network traffic last time I checked. Everyone runs protocol encryption to avoid the ISP meddling with the traffic.
Just because you were to uninformed to use proper security on your end doesn't make the technology not exist. Also, please stop being a leach and just pay for your content. I suspect the reason you hate crypto is because it's the single largest tool that works against government control of money.