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Title: I finally figured out how the government can destroy Bitcoin Post by: pjviitas on January 30, 2014, 03:29:17 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing.
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: toomsie on January 30, 2014, 03:43:04 PM If they destroy it, more will come to replace it.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: greyhawk on January 30, 2014, 03:43:36 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 30, 2014, 03:56:27 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 I seldom use the term but... Lol. You are going to shut down every exchange in every jurisdiction in the world, including localbit, craigslist, irc? Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing... As for OP I came to the same conclusion, about the major pools anyway. That is why i put money in VTC. I dont know if they will fly, but they are moving the ball towards decentralizing again, surely a moving target but altcoin will survive even if bitcoin dies. But i do not really expect the gov to kill it, just regulate it eventually. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: BitCoinDream on January 30, 2014, 03:59:22 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. I guess difficulty will go down wena govt stops mining under its demography. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: MakeBelieve on January 30, 2014, 04:09:28 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 Unrealistic not every government would want to destroy Bitcoin so there would still be exchanges in some countries. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: RodeoX on January 30, 2014, 04:21:55 PM Will not work. Will cost billions.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: MakeBelieve on January 30, 2014, 04:23:08 PM Will not work. Will cost billions. Surely the government will have enough money though they could just print more off. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: RodeoX on January 30, 2014, 04:26:09 PM Will not work. Will cost billions. Surely the government will have enough money though they could just print more off. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: MakeBelieve on January 30, 2014, 04:27:30 PM Will not work. Will cost billions. Surely the government will have enough money though they could just print more off. Haha I don't think it would benefit them to destroy Bitcoin what would be the point? Title: Re: I finally figured out how the government can destroy Bitcoin Post by: RodeoX on January 30, 2014, 04:31:52 PM Haha I don't think it would benefit them to destroy Bitcoin what would be the point? I agree. Assuming you had billions to spend you might be able to hurt bitcoin. Of course bitcoin 2.0, 3.0, 4.0, etc. will require additional billions. In the end what has been achieved for all this money, and why was it done in the first place?Title: Re: I finally figured out how the government can destroy Bitcoin Post by: tinyteapot on January 30, 2014, 04:34:27 PM The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: MakeBelieve on January 30, 2014, 04:36:21 PM The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die. Why would those companies be backing the banks I think some of them you have mentioned have interest in accepting Bitcoin. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: RodeoX on January 30, 2014, 05:20:16 PM The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die. I don't understand. How are they going to force me to use their alt-coin? And why would acceptance by some of the worlds largest companies cause bitcoin to die?Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 30, 2014, 06:26:29 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ;) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: MakeBelieve on January 30, 2014, 06:29:03 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ;) That's certinaly a lot of power you are using and not counting others who are mining with amazing machines it would take too much money to defeat Bitcoin this way. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 30, 2014, 06:37:57 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ;) That's certinaly a lot of power you are using and not counting others who are mining with amazing machines it would take too much money to defeat Bitcoin this way. I am not using all the power yet but also have two other rent-free locations with the same 400 amp incoming. I intend to use up at least 85% of the available incoming with scryptcoin mining rigs, both for myself and my corporation. ;) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: conspirosphere.tk on January 30, 2014, 06:48:01 PM step 1) NSA-backdoor into as many btc-users puters as possible -not to speak about exchanges
step 2) pwn them hard making believe that it's some hacker to make an example of how unsafe cryptos are (while the guv instead...) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 30, 2014, 07:09:49 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ;) That's certinaly a lot of power you are using and not counting others who are mining with amazing machines it would take too much money to defeat Bitcoin this way. Not mining Bitcoin. Why tie up a bunch of money in"pre-ordered" vapourware ASIC rigs for Bitcoin when the same money can be put to work mining alts almost right away? You order Bitcoin ASICs and by the time they get to you the difficulty is so high that your equipment is nearly uselsess. I've got a ton of fans spinning against Litecoin and am very happy. My $.02. ;) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: delaro on January 30, 2014, 07:18:10 PM Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing... All kinds of things... Guns for example.Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 30, 2014, 07:28:47 PM Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing... All kinds of things... Guns for example.nope, huge markup for black market guns. Hard for me to nail down here but ask any soldier whose country was under UN arms embargo during or prior to conflict (Croats and Kosovars maybe easier to find than Syrians or Iraqis but...well probably some of any of them around here). Same holds true anywhere they are banned. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: subcoin on January 30, 2014, 07:31:02 PM Quote how the government can destroy Bitcoin 1. "Issue Guidance" 2. Threaten legal action against exchanges, miners and users 3. Done Total expenses: less than $100k That will not completely destroy it, but will make it illegal on par with drugs. That will also cover all other cryptos and alike. To predict what government will do, you need to think the way government does. http://cdn.howtogeek.com/wp-content/uploads/2010/10/image339.png Title: Re: I finally figured out how the government can destroy Bitcoin Post by: hjbuell on January 30, 2014, 08:09:51 PM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: illpoet on January 30, 2014, 10:44:33 PM i see governments creating their own blockchains and trying their hardest to sell them to their respective citizens. they could offer tax breaks to their companies to accept govcoin over bitcoin. So you could pay your electric bill or buy groceries with govcoin but not bitcoin. It could be closed source and do all kinds nice data mining.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: gutshot on January 30, 2014, 11:29:03 PM The only reason people mine bitcoin is because they can either spend it or convert it to fiat.
The only reason merchants accept it, is because they can convert it to fiat. If you shut down the exchanges bitcoin will die. The only way this wont happen is if the merchants suppliers will also except bitcoin and you can basically spend it everywhere for everything, then it truly does become a worldwide currency in its own right. It would be impossible for every exchange in every country of the world to be shut down - there will always be one and if there is one there is a way! Long and short of it is - the government cant destroy bitcoin through any of the above means. There is however one sure-fire way the government can destroy the currency and that is to destroy peoples confidence it... Crack SHA-256, make it public - show the coin as vulnerable and insecure - who would even want to use it then? Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Anacronix on January 30, 2014, 11:41:38 PM It can always be forked and upgraded to ... SHA-3 for example ? So , no , cracking sha256 wouldn't kill it, in my opinion.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: pjviitas on January 31, 2014, 01:30:41 AM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ;) That's certinaly a lot of power you are using and not counting others who are mining with amazing machines it would take too much money to defeat Bitcoin this way. I am not using all the power yet but also have two other rent-free locations with the same 400 amp incoming. I intend to use up at least 85% of the available incoming with scryptcoin mining rigs, both for myself and my corporation. ;) Most single family dwelling built in the last 10 years or so have 200A services and strata complex units are usually 100A services. With that being said its not hard to still find 60A services. In any event the typical distributed miner is going to need to have some kind of balance in his life for other things besides mining. So lets say the family is fine with the miner dedicating a room for mining hardware and lets assume that this room has its very own 15A breaker. Assuming a power factor of 1, a 15A breaker will allow you to draw 1.8kW of power which translates to roughly 1TH/s of mining hardware. With a constantly increasing difficulty, come May or June, you will need around 1TH/s of hardware in order to earn 1BTC/month. In a nutshell, miners will increasingly be faced with the decision to either move to centralized mining or become a professional miner and start making plans to build a server room. Once enough mining becomes centralized, taking over or destroying these centralized facilities is like shooting fish in a barrel for any government that has decent skills at subversion. Like some of the prior posts state I believe that other crypto-currencies are the only way to ensure that mining stays distributed and healthy. When we see things going south with one crypto-currency just move all your coins to the next one. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 31, 2014, 02:32:27 AM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ;) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 31, 2014, 02:51:51 AM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ;) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 31, 2014, 03:47:45 AM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ;) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ;) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 31, 2014, 03:55:29 AM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ;) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ;) he is just a president, I think a lot of you guys have some serious cognitive dissonance when it comes to Obama for some reason. Anyway lobbyists change federal law, congress signs off on it when they are told, I am sure we all know that here. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: LostDutchman on January 31, 2014, 03:58:41 AM Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. :D I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ;) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ;) he is just a president, I think a lot of you guys have some serious cognitive dissonance when it comes to Obama for some reason. Anyway lobbyists change federal law, congress signs off on it when they are told, I am sure we all know that here. And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal. Need I write more? :( Title: Re: I finally figured out how the government can destroy Bitcoin Post by: AltorXP on January 31, 2014, 05:57:59 AM If the banks wanted BitCoin gone by now, this forum nor BitCoin would exist
And since most governments don't seem to treat it as a major threat, I don't think any would spend billions on putting this into effect Title: Re: I finally figured out how the government can destroy Bitcoin Post by: maurya78 on January 31, 2014, 06:01:01 AM Good for you mate
Keep it coming Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Rampion on January 31, 2014, 11:14:52 AM Quote how the government can destroy Bitcoin 1. "Issue Guidance" 2. Threaten legal action against exchanges, miners and users 3. Done Total expenses: less than $100k That will not completely destroy it, but will make it illegal on par with drugs. That will also cover all other cryptos and alike. To predict what government will do, you need to think the way government does. http://cdn.howtogeek.com/wp-content/uploads/2010/10/image339.png True, and we all know that by making them illegal the Gov. has "destroyed" drugs, its almost impossible to find them and when you found them they cost nothing. :D :D :D But yes, if Gov. would "ban" bitcoin expect as similar scenario as we have with drugs - first thing, a very high price. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Lauda on January 31, 2014, 11:17:32 AM No they can't. You're an ignorant fool.
Please acquire more knowledge before spreading FUD. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: r0ach on January 31, 2014, 11:30:38 AM Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Yea, Bitcoin is over soon as those 5000 watt USB block eruptor ASICs come out Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Alpaca Bob on January 31, 2014, 12:25:16 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 You can't shut down localbitcoins, nor will you be able to shut down upcoming decentralized exchanges. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: tinyteapot on January 31, 2014, 12:46:33 PM The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die. I don't understand. How are they going to force me to use their alt-coin? And why would acceptance by some of the worlds largest companies cause bitcoin to die?The adoption by massmarket companies would mean adoption by the massmarket as a whole. Despite the advances bitcoin has made into the conciousness of the general public it is still seen very much as a 'techie' thing. The vast majority of people, especially in the USA, are sheep, and will do what they are told. Capitilism rules, and so the biggest, and not the neccessarily the best wins out. When the banks and major financial institutions who already run everything decide to create their own, it will win. Bitcoin will move underground, and ultimately laws will be brought against it. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: ZKRiNG on January 31, 2014, 01:05:05 PM If destroy the actual exchanges and they will move to countries with different laws like happens with piratebay or something like this
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: RGBKey on January 31, 2014, 01:17:10 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 I seldom use the term but... Lol. You are going to shut down every exchange in every jurisdiction in the world, including localbit, craigslist, irc? Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing... As for OP I came to the same conclusion, about the major pools anyway. That is why i put money in VTC. I dont know if they will fly, but they are moving the ball towards decentralizing again, surely a moving target but altcoin will survive even if bitcoin dies. But i do not really expect the gov to kill it, just regulate it eventually. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: roslinpl on January 31, 2014, 02:35:10 PM it is realy easy for goverment to ruin bitcoin world.
it is just not good enought reason to do it. goverments must find a good side of bitcoin for their own. anyway I guess many from politicians has got hundreds of bitcoins :) so why would they stop it? :) Title: Re: I finally figured out how the government can destroy Bitcoin Post by: pjviitas on January 31, 2014, 03:37:06 PM it is realy easy for goverment to ruin bitcoin world. it is just not good enought reason to do it. goverments must find a good side of bitcoin for their own. anyway I guess many from politicians has got hundreds of bitcoins :) so why would they stop it? :) I have always thought the same thing. The biggest criminals on the planet go to work in financial districts and government buildings every day. Why would they want to destroy something which helps them launder their money. In my opinion, bitcoin is the best thing that's happened to the banks and governments in a long time. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Rampion on January 31, 2014, 07:42:07 PM name a thing that costs less on the black market than it costs in a free market. One thing... Marijuana.You do realize that Cali or Amsterdam are NOT free markets - right? Title: Re: I finally figured out how the government can destroy Bitcoin Post by: hashman on January 31, 2014, 09:49:15 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. Am I the only one that was thinking you would have a step involving destroying Bitcoin? Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 31, 2014, 10:00:14 PM name a thing that costs less on the black market than it costs in a free market. One thing... Marijuana.You do realize that Cali or Amsterdam are NOT free markets - right? Remove prison time and all I need is seeds, water and a couple lights. Or sunshine I suppoes would suffice. Also true of poppies/ Plants are pretty much free, though I have utmost respect for the art of hybrid cultivation and such, which certainly commands a premium. But no dice on the question at hand. Legal weed is cheaper. B.C. bud $700 a pound in BC, 3-4k a pound right over the border (although that may have changed drastically since Washington went legal, and also I have not shopped that market for awhile). Title: Re: I finally figured out how the government can destroy Bitcoin Post by: hjbuell on January 31, 2014, 10:41:56 PM And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal. One of the most knowledgeable comments I've seen on the topic in ages. Well put. DuPont certainly won't be signing off on any sort of long lasting and cheap fabric that can compete with Nylon. Nor will the cotton industry support switching back to hemp fiber clothes - which is the whole reason Levis' 'Jew Pants' were popular with miners back in the day - because they lasted 10x longer than the cotton alternatives. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: glendall on January 31, 2014, 11:02:56 PM You could destroy bitcoin but you can't destroy the idea of bitcoin. Cat is out of the bag. It it has been invented.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on January 31, 2014, 11:18:48 PM And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal. One of the most knowledgeable comments I've seen on the topic in ages. Well put. DuPont certainly won't be signing off on any sort of long lasting and cheap fabric that can compete with Nylon. Nor will the cotton industry support switching back to hemp fiber clothes - which is the whole reason Levis' 'Jew Pants' were popular with miners back in the day - because they lasted 10x longer than the cotton alternatives. Well call me an optimist but I believe this will end, and is ending. My own theory but I think it is the upside of social media. Ten years ago referendums would die at the polls, after the media blitzes would paint the picture of doom if ever it were legalized. So even with half the population smoking it would not get through. Now you have everybody on facebook seeing how many of their friend and friends of friends are pro hemp and can actually put names and faces to the enemy, and realize they aren't. I think this is what happened with gay marriage also. People just got over their unwarranted prejudices, or getting over them. Not everyone but enough to turn the tide towards some common sense. But yes it will be an uphill battle, it has been, and all I can say to that is Super.Bowl... Seattle vs. Denver. Sign from God. :P Title: Re: I finally figured out how the government can destroy Bitcoin Post by: texaschainsaw54 on January 31, 2014, 11:35:59 PM I like this idea
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: zolace on February 01, 2014, 12:01:39 AM Let them try to do anything, if they regulate bitcoin, then im moving to the next coin till they get tired.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: 2bfree on February 01, 2014, 02:33:06 PM Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit. I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy. That wont work Title: Re: I finally figured out how the government can destroy Bitcoin Post by: pjviitas on February 01, 2014, 05:14:16 PM Let them try to do anything, if they regulate bitcoin, then im moving to the next coin till they get tired. +1 Title: Re: I finally figured out how the government can destroy Bitcoin Post by: Proteus123 on February 01, 2014, 05:31:09 PM Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept.
Title: Re: I finally figured out how the government can destroy Bitcoin Post by: jballs on February 01, 2014, 07:18:08 PM Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept. Vertcoin, three steps ahead already. Title: Re: I finally figured out how the government can destroy Bitcoin Post by: pjviitas on February 01, 2014, 07:22:49 PM Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept. +1 The more I think about it the more its seems like crypto-currencies present too much of a moving target for governments or banks for that matter to get a bead on. I am starting to think that crypto-currencies present a much bigger threat to the sovereignty of nations than I thought. Is it possible that crypto-currencies may culminate in the grand daddy of all currency wars...or how about world war? I mean if crypto-currencies are as revolutionary as they seem the establishments around the world won't go down easy. And, when they realize they can't stop crypto-currencies they will probably start fighting amongst themselves which may ultimately lead to world wide destruction. It's kind of like a zombie movie...once the establishment gets bit they start turning on each other. |
