what governments are REALLY afraid of is the inability to print money. This would massive reduce their effective tax revenue since inflation is a nothing but a stealth tax

homeless do not have the capital to do this. And are not sufficiently CLEAN to handle food or actually anything one might want to buy.

Almost right, the president of china is a member of the illuminati

what is the EMA line?

No, they will call it pandacoin, or dragoncoin... or pandadragon

China has been warning the US about its endless printing of money and publicly warning it to be less communist and more capitalistic lately lest the US ruin its economy and take the rest of the world with it.

The US economic downturn has been catastrophic for them with their reliance on exports.

It would be a perfectly logical maneuver on their part, very sensible. Could save the entire world... Too bad they are vile communists

I am well aware that it is not the first recourse. But most of those other methods will not completely eliminate it, especially if facing hyper inflation. It would be illegal but it would thrive just like alcohol or drug under various prohibitions.
If such a situation occurs where the currency has already been deemed illegal and is purely an underground thing in a "communist utopia" the a 51% attack might be resorted to simply because there is no defense against it.


a 51% Attack was successfully executed against feathercoin.

Historically this just lead to violence from the establishment as the reconquer such communities

Snowden described a formative experience the situation where they setup an elaborate situation to make a swiss banker drive drunk and be caught, so they could recruit him as an informant that he could deliver secret banking information (which is a big deal in switzerland) to the US government.

The leaked documents show that they have infiltrated a plethora of corporations to introduce bugs into common security standards as well as ensure that weak encryption standards are chosen by international panels (ex, they helped ensure that the weakest of the 3 finalist competing standards was chosen for AES).

I can definitely see them doing something hamfisted or sneaky to the people who own BTCGuild and Ghash. Unlike P2Pool those are centralized guilds

that is actually a good thing

yea. one dollar becomes over a million. nice

I wish I bought bitcoin at any time when it was under 100$, then sold when it was over 1000$, then buy again after the china collapse. Actually if china cracks down then it would create an excellent time to buy... Although I pity the chinese people who got screwed by "their" government

Thank you, I laughed.

Note to self, never use brainwallet

The "tone" of your post suggests you are being sarcastic and such a thing exists already.
Am I misunderstanding? If not, what is it called?

As I stated before, I do not worry about any individual doing so, I worry about governments. Inflation (aka printing of trash paper money) and their desire for power are the motive.

There are many examples of them doing it before, a recent one being egold but it is certainly not the only one

Also, as I explicitly stated, they don't even have to attempt to destroy it. They could merely be attempting to centralize it and control it and that will destroy what it stands for.

Imagine the any world government had the power print more bitcoins to cover their national debt

Is there a way to receive bitcoin AS cash?

That is, mow the lawn for someone and get bitcoin. Sell a used video card on craiglist and get bitcoin. Taxi cap someone and earn bitcoin. etc?

oh, I see now, thank you.

I was just giving examples of some of the obvious methods via which it is possible for the US government to do so if they so desire, not a comprehensive list of every way they can.

At the moment they haven't decided to shut us down, yet. But their history of doing so worries me. Hence my question about the 51% issue

Can someone explain this to me?

The fed is the one I am worried about. The US federal government destroyed several alt currencies in the recent past. Such as egold. They even went after companies located outside of the USA in weaker countries which they bullied. And are printing toilet paper, excuse me, dollars like there is no tomorrow.

If the fed sends cops to BFL to seize all the hypothetical next gen ASICs when they are about to ship them... or puts in billions of dollars towards designing their own ASIC and building a massive farm of them, then bitcoin will be ruined.

Not to even mention multiple nations cooperating about it. China, Russia, the USA and European union nations pooling their resources to seize bitcoin. Heck they don't even have to intentionally destroy it, they can just seize it and centralize and use a 51% attack to do so, then it is no different then any other fiat currency