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.

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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.

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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

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.