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September 08, 2018, 01:00:53 AM |
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It was really funny reading the earlier posts, and how it would only take a few GPUs to affect the hashrate, costing only about $100k.
Even now, the government could spend 10 billion dollars and make its own dedicated chips to attack bitcoin. Although with the speed and efficiency that government typically does things the chips will somehow cost 10 times the initial amount and be complete by the time they are completely obsolete.
Government is not all powerful. Even the US IRS is horribly underfunded.
As a one of the 2010 posters mentioned, the biggest governmental threat to bitcoin is Judiciary.
I've seen cases on YouTube where people where prosecuted for operating a money transmitting business without a licence, just for selling bitcoin for USD, which is complete bullshit.
Then again, when they haul you off to jail to get locked up with big dick McSqueek that's where government can beat individual Bitcoiners.
But as a whole, I think we can outsmart the government, should it be so unreasonable as to threaten Bitcoin.
We can, switch algorithms or slower block generation speed and switch to a bitcoin protocol through shortwave radio. Or a million different things.
Once bitcoin was first implemented the genie got out of the bottle. As long as there are people who want financial freedom, bitcoin will exist, whether the government likes it, or not.
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