If the US Government came out and said they started Bitcoin, why would anyone revolt?

Why would people think it's socialist?

It might give the US Government some improved "street cred", haha, or at least some people may increase their respect for the project. Others of course, would sell their Bitcoin not wanting to participate in yet another pet project of a major government.

I'm sure there's 20 other responses people would have - but why revolt and claims of socialism? Bitcoin isn't socialist in any way...

This thread makes absolutely no sense what so ever.

Why create bitcoin and then have to deal with the tax issues or even the silk road issues?

Its more like an anti government movement if anything.

if the government and central banks wanted to create bitcoin. they could have created it.

meaning they could have coded it behind closed doors, premined it. and the swapped their current database account system with nodes and simply accredited each account holder with a privkey that was made from their bank details and a secret seed. and fill that public address with "dollarcoin".

we would have been non the wiser of this new banking system because to us all we see is a paper bank statement and or a balance on a website or ATM screen.

the general public would have been non the wiser of what actual code makes up the bank system. we would have been non the wiser thatif banks used crypto currency as their ledger, that the data on the 'chip and pin' cards was simply a privkey and not standard bank account numbers

so if government and central banks made bitcoin, then government and banks would be using ... well an altcoin.. as their bases of accounting the ledger of account holders, as its alot easier and more secure with no single point of failure compared to the banks standard systems of this last decade.

but im afraid to tell you that governments and banks are NOT using a crypto currency based ledger system,

put it another way. sat nav was not invented by the public, it was invented by the government, and they utilized it first in secret, they made it part of their world as they seen it was better then compasses/maps/sonar. it wasnt until years later that it was released to the public and commercialized.

so going back to bitcoin. if the government made it thy would be the first to use it to standardize and secure banks and then release it out to the world later.

so please will the OP and everyone else with a conspiracy theory branded tin foil hat. please stop making up stories about something that is soooooooo open and soo transparent.. as being made by secret agencies,

your theories would hold weight if you could show evidence, but just reading your crap theories i can tell that you have not even bothered to read the white paper, or read the code or read any of the open communications of the last 5 years between developers. you have no clue at all. i bet you have not read more then 2 messages posted on this forum by satoshi (although there are hundreds more. )

so before you make another crack pot theory, atleast do some research and provide links, atleast make the crack pot theory entertaining with an image.. just do something other than make crack pot theories.

Difficulty: 24425.1 as more and more asic scrypt miners are produced diff will continue to climb, once bitcoin enters the institutional space, litecoin will follow soon after! All those hedge funds and pension funds will eventually have to invest in crypto and after Bitcoin, Litecoin will be second best choice. Hold your litecoins!

Similar to doomcoin only worse , at least with doom the released the GPU miners relatively soon and fairly to all people who read the forum and also on the main thread
these a$holes refuse to release the miner until what they have the 90% of the supply ?  Screw this coin lol.

ok all you speculators. lets update you..

the bitcoin price spiked multiple times for the last 5 years because it was nice and easy to get dollars into exchanges to buy bitcoin. but this year all the exchanges are starting to put dollar limits on deposits,etc.

so will you atleast add that into your speculative equations.

for example 1 person depositing $50k could move the price from $200 to $220 all by himself last year. but now with max deposits of $10k and the price being averaged at $600. it will take 15 people to simultaneously buy in to cause a price rise of $20 in a short period.

so do not expect big movements from new investors. expect smaller movements from medium investors or lots of micro investors. that is of course, if we can atleast convince miners to stop selling on exchanges at a loss..

 we are no longer in the game where investors throw lots of dollars at exchanges to buy coin. we are now in the game where investors throw lots of dollars at private trades, which SLOWLY reduces the number of sales on exchanges, due to the bitcoins being sold privately instead. which still helps a price rise, just much more slowly.

good luck with your maths and predictions.

I heard of a new revolutionary, innovative new blockchain idea, that turns cetralized money into decentralized Innovation that could litereally go to the moon, but only if the fudsters are wrong about this scam and Satoshi really hodls his coins that were mined without ASICs.

I am intrigued as to why you are pretending to be a 12-year-old.
I'm afraid your vocabulary and grasp of sociopolitics betrays you.
More than that, the naive-like pretense you displayed in the opening post contrasts sharply with the subsequent ones.
I'm curious to see where this thread will eventually led to.

BUT it can still happen!


So Dogecoin to tha mooooooooooooooooon!!!!!!

That doesn't mean that you should purposefully create even more unfair environment. It's about giving the coin a chance to succeed by using a PoW that many people can mine and hold, not just a small insider miner group who has 90% of the net hash because small time miners stop mining. This will just invite a fork that uses an established algo to take over. And, who knows what this 51%+ of total hash in the hands of an insider group can do.

And, regarding the 10 or 20 year mining period and how much the first 6 months or a year matters - well, I doubt anybody really expects any of these coins to exist in 10 or 20 years, the insider mining group is looking to liquidate asap most likely and move on to the next exotic PoW launch.

This is an interesting point.
Further, as the price of LTC stagnates and more and more of these ASIC rigs come out, who is going to be buying them? How many of the "farms" will be by the actual producers?
I say fewer individuals will be buying them and more producers will be putting them to use. How deep are their pockets? (Meaning can they sit on them hoping for a higher price? I don't think so.)
Now, when they try to sell them, is the demand there? Lots of LTC are mined every day and with a falling price, volume and interest - this could get interesting, ugly or who knows what.