[2021-02-10] Brighter future for bitcoin or beginning of self destruction?

[bbc.reporter]

This is an old article I just read. Everyone should read it also.

I am afraid that we have become very distracted because of the billionaire hype and the pump to all time highs. We might have forgotten about more concerning news on bitcoin. I like the pump, I hope it does not stop, however, this should also be concerning.



Crypto wallet providers aren’t the only companies adjusting to the prospect of a more stringent regulatory environment. Two of the largest Bitcoin mining companies in North America, Marathon Patent Inc. and DMG Blockchain Solutions Inc., recently joined forces to create the Digital Currency Miners of North America (DCMNA) nonprofit trade group, the first North American mining pool with a legal entity. Together, they're pledging to only process transactions that comply with American laws.

Read in full https://www.vice.com/en/article/k7anmv/the-era-of-government-friendly-bitcoin-miners-is-here

[Lucius]

This is old news - and there is a topic on the subject even on the first page of the Press Board - The Era of Government-Friendly Bitcoin Miners Is Here.

I am not at all surprised by this initiative, because it is the modus operandi of American democracy - they will try to centralize Bitcoin as much as possible, this is certainly only the first step in that direction. Fortunately, their mining pool is not the only one, and as far as I'm concerned, let them do whatever they want - Bitcoin has always been able to resist such attempts, and I think that will be the case in the future as well.

[Oilacris]

I am not at all surprised by this initiative, because it is the modus operandi of American democracy - they will try to centralize Bitcoin as much as possible, this is certainly only the first step in that direction. Fortunately, their mining pool is not the only one, and as far as I'm concerned, let them do whatever they want - Bitcoin has always been able to resist such attempts, and I think that will be the case in the future as well.

I agree with this!

If we do try to count on various events or circumstances about these kind of attempts on where trying out to make everything centralized specially its connected to crypto or bitcoin itself
then they are much pretty aware that they wont really have the chance on reaching up that certain goal.

Its true that they arent the only ones when it comes to mining pool.They are just a small fish on a big pond and having that centralized kind of mindset wont really bother out
the system as a whole.

[Oceat]

Even if this is an old news the certain attempt is just the start of their goal and I wouldn't be surprised if they passed several laws and regulations about how to use or trade Bitcoin in the future. If they were just doing it just to control the people using Bitcoin on their country then be it, people can't stop from using it even if they put some strict regulations on it.

They are not just the only country that is using Bitcoin.

[bustabitsboy]

Due to recent events, it is clear that Bitcoin will grow.  Elon Musk recently bought 1.5 billion bitcoins, but he doesn't make stupid investments