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It has never been more necessary for Bitcoiners to defend the network. Even if you disagree with solutions, it's obvious that Bitcoin is under attack. [Spoken audio]: This is Matthew Cratter's Bitcoin University. Today I want to talk about 12 possible attacks on Bitcoin and 12 attacks I think that are actually ongoing. These are 12 great ways to try to stop Bitcoin from becoming widely used global money so that the central bankers win in the end and we end up failing to separate money from state. Attack number one, associate Bitcoin with bad things in the minds of normies. Tell them that Bitcoin is just for drug dealers and sex traffickers and other bad people and other criminals. Tell them that Bitcoiners are fine with serving up CSAN in large opera turns to each other with their notes. Tell them that Bitcoin is being used by our enemies. Whoever is the bad country in your country at the moment, whether it's Iran or Russia, North Korea or some other country, just basically let them know that Bitcoin is for bad people. And so if you're not a bad person, you shouldn't be using Bitcoin. Attack number two, get people excited about shitcoins. Tell them they're all going to get Lambos, then rug them and take their money so that their life savings are gone and they hate the whole space and never come back and they forever associate Bitcoin with scammers whenever they hear about it because they were never taught properly about the distinction between Bitcoin and crypto. Then go on and create so many cryptos that newcomers can't figure out which one's real and which one's a scam. Create tens of thousands of cryptos and then go even a step further once people figure out that game. Go ahead and create shitcoins on Bitcoin and when clubs get wrecked. They'll hate Bitcoin. This is something that David Bailey has done along with Bitcoin magazine. He raised a lot of money for these BRC 20 tokens, which are basically shitcoins on Bitcoin and they're bringing the grift home to Bitcoin. Attack number three KYC capture and tracking KYC stands for know your customer or know your client. It's very hard to control Bitcoin, but it's relatively easy to control the large on and off ramps like the big Bitcoin and crypto exchanges. They collect your personal information and then associate it with the bitcoin address that you use to withdraw your bitcoin and then attempt to follow you around on chain and watch what you're doing. So this is obviously an attack on privacy but it's ultimately an attack on your security as well because these exchange databases often get hacked and then your name, your home address and how much bitcoin you bought end up on the dark web thus opening up your family to wrench attacks. To avoid this you can learn how to use CoinJoin and you can also start off by buying non KYC Bitcoin instead use something like RoboSats is great. Another great way to get Bitcoin without having to use a KYC exchange is to earn it of course and if you want to be able to earn Bitcoin you should spend Bitcoin so that others can also earn it and thus the Bitcoin circular economy gets jump-started and we can bypass in a sly and roundabout manner we can bypass the fiat system. Now unfortunately there are suit coiners who have been actively discouraging people from using Bitcoin as a medium of exchange. This is part of attack number four, tell people to pay with dollars, eat the pizza, keep the Bitcoin. Even on Bitcoin Pizza Day, which is supposed to celebrate Bitcoin as a medium of exchange, that's the whole point of the holiday, have a Bitcoin celebrity tell you to pay with dollars instead. The same guy who tells El Salvador that they should just should have just used the dollars a medium of exchange and then use Bitcoin as a store of value. The same guy who on CNBC said the medium of exchange use case is a distraction for Bitcoin who said it doesn't have to be a currency. Nobody's trying to buy a cup of coffee with a fraction of their building on Fifth Avenue and also saying Bitcoin is not competing with the dollar. It's not a currency. Attack number five. Tell them that Bitcoin isn't money. Tell them that it's digital capital or tell them that it's an agnostic digital platform that has many use cases including file storage. So we have Michael Michael Saylor insisting that Bitcoin is digital capital or digital energy or digital real estate. He'll say that it's anything except money. Attack number six. Tell people that Bitcoin has already won. So there's no need to do anything or tell them that Bitcoin has already failed. So there's no need to do anything. You just want people not to do anything or tell people that if Bitcoin dies, it was always meant to die and there's nothing we can do about it. Michael Saylor here saying Bitcoin has won global consensus is that Bitcoin is digital capital. This is killing two birds with one stone, telling you you don't have to do anything and also telling you, trying to persuade you that Bitcoin is not money. Attack number seven, create large pools of Bitcoin that you can use to suppress the price now and that you can easily seize later because they're in these centralized custodians. Create large pools of Bitcoin like Coinbase custody. That way there's a lot of Bitcoin in one place if the government ever decides to do 6102 attack like FDR President Roosevelt did with gold in 1933, 1934. It's much easier than going door to door to confiscate every family's Bitcoin, especially in a country with the Second Amendment. And then once you have a large pool of Bitcoin, you can take some of the Bitcoin, rehypothecate it, and use it to suppress Bitcoin's price by selling actual Bitcoin or paper Bitcoin. In other words, you can follow the playbook that's been used for decades to try to suppress the price of gold. And once you have this large pool of Bitcoin, you can use it to manipulate the price short term load everyone into Bitcoin loans and then take the price and take their Bitcoin so it ends up in the hands of banks and lenders. You could also create vehicles like MSTR and IBIT that help you centralize large numbers of Bitcoin at these large custodians. This is part of the same attack I believe. Attack number eight normalize having five companies in the world getting to decide which transactions go into 90% of Bitcoin blocks. Make sure that people aren't panicked about this and it just becomes the normal state of affairs. Low Bitcoiners to sleep when it comes to the dangers of mining pool centralization and having just a few people make all the block templates and thus decide what goes into each block. Make sure that everyone knows what a preferred stock is and no one knows what a block template is. Today, for example, the US and China could collude to do a very bad 51% attack on Bitcoin because we can see there's just one, two, three, four, five main companies that make 90, 89, 90% of the blocks. And then if there's a solution that comes on the horizon like ocean, do everything you can to discredit it and attack the people associated with it, even though they're in the process of decentralizing mining and then pretend that the real way to decentralize mining is to force node runners as Bitcoin Core did in Bitcoin Core version 30, force node runners to relay spam so that mining pool centralization gets fought. That's a very roundabout way of doing it that doesn't have a huge effect. Attack number nine, corrupt the culture, onboard newcomers into stocks like MSTR and Stretch instead of Bitcoin and self-custody. This kills at least two birds with one stone. Number one, it adds more Bitcoin to the pool at Coinbase custody and other large custodians that you can use for that previously mentioned attack. And number two, it ensures that these newcomers don't use Bitcoin to buy and sell things, thus preserving the US dollar as the medium of exchange and preserving its network effects. Corrupt the culture, keep talking about NGU, number go up, but never talk about how you're not a real Bitcoiner if you don't run and use a node and mind with it. Attack number 10, use the fact that there's only one widely used Bitcoin node software implementation, namely Bitcoin Core a couple years ago. Use this to push through updates that make Bitcoin worse money, add unnecessary or toxic data to the blockchain so that it becomes too difficult or too expensive or too morally problematic to spin up and run a new node because once you have fewer node runners you less decentralization, Bitcoin becomes easier to capture because you just capture the few node runners who are still running it. Probably big companies like Google and Microsoft will be the only ones left running nodes in that scenario. Tech number 11, build up a lot of Bitcoin or Goodwill for certain Bitcoin OGs and celebrities, then have those OGs do a multi-year scam and then expose their scam to the world, publicly destroying Bitcoiners' heroes and demoralizing everyone while showing the outside world that Bitcoin's most prominent citizens were running a cloud mining Ponzi in line about it, or just get them compromised on an island or elsewhere, then use that as blackmail to control their actions and what they promote to the Bitcoin community. If you want to read about some of these allegations that involve Adam Back and Greg Maxwell, this may be what's going on. I'll put a link to both of these substack posts below. Attack number 12, attack the Bitcoin blockchain with spam and CSAM, bloat the UTXO set, etc. And then try to convince people that the real attackers are not the people who did the actual launch chain damage, like UTXO set bloat, but convince people that rather the people who are now attempting to fix the problem with a soft fork like the 110 are the actual attackers. Call something that rolls back these terrible changes, call that the attack and confuse people so they don't understand that the real attack is what did things like this, blowing up the UTXO set and it's still in a very bad state. So if you want to learn more about how BIP 110 is a solution to a lot of these attacks along with ocean mining, of course, which has been fighting mining pool centralization, I'll put a link to this video about BIP 110 in the description notes below that describes what BIP 110 actually does and why we're going to win. And I think if you watch this and you keep in mind these 12 different attacks, you will see BIP 110 in a new light. If you enjoyed this video, be sure to hit the subscribe and like buttons. Hit the notification bell if you want to be notified when I publish my next video and let me know your questions and comments in the comment section below. Thanks a lot for watching and I'll see you in the next video.
