Govcoin.

[Anonymous]

I just realised something today that sent a chill down my spine. Why would the government attack the existing bitcoin when it can fork bitcoin, create its own block chain and force everyone to use its own client that it controls?

They have a monopoly on force so could mandate that everyone uses the nifty new govcoin software. I can imagine the block chain dwarfing the existing block chain quite easily if the state created its own govcoin monopoly. They could then practically track every transaction in the network and force people to have a government registered govcoin address. Then they could tattoo it on your arm.....etc..etc...



Am I wrong?

[Aqualung]

what for? Gov already have money totally controlled by them, so what is the need to make new ones?

[hugolp]

I just realised something today that sent a chill down my spine. Why would the government attack the existing bitcoin when it can fork bitcoin, create its own block chain and force everyone to use its own client that it controls?

They have a monopoly on force so could mandate that everyone uses the nifty new govcoin software. I can imagine the block chain dwarfing the existing block chain quite easily if the state created its own govcoin monopoly. They could then practically track every transaction in the network and force people to have a government registered govcoin address. Then they could tattoo it on your arm.....etc..etc...



Am I wrong?

That is the reason why anonimity and de-centralization is important. And bitcoin has both.

[FreeMoney]

OMG, they could force us to wear silly hats too.

As mentioned they already have the money issuing pretty much in hand so I don't think they are going to switch to some cryptocurrency.

[ribuck]

For those who are inclined to be paranoid: how do you know that Satoshi isn't already "the government"?

[Anonymous]

OMG, they could force us to wear silly hats too.

As mentioned they already have the money issuing pretty much in hand so I don't think they are going to switch to some cryptocurrency.

Once hyperinflation sets in they might consider it.

[Anonymous]

For those who are inclined to be paranoid: how do you know that Satoshi isn't already "the government"?

Its not paranoia its realism. We might never know what the motives are for satoshi.

No one is forcing anyone to use bitcoin so its a non issue really.

[Anonymous]

what for? Gov already have money totally controlled by them, so what is the need to make new ones?

When the dollar becomes worthless they will look for a viable alternative and attempt to control it I have no doubt.

[Anonymous]

I just realised something today that sent a chill down my spine. Why would the government attack the existing bitcoin when it can fork bitcoin, create its own block chain and force everyone to use its own client that it controls?

They have a monopoly on force so could mandate that everyone uses the nifty new govcoin software. I can imagine the block chain dwarfing the existing block chain quite easily if the state created its own govcoin monopoly. They could then practically track every transaction in the network and force people to have a government registered govcoin address. Then they could tattoo it on your arm.....etc..etc...



Am I wrong?

That is the reason why anonimity and de-centralization is important. And bitcoin has both.

Just playing devils advocate here 

[ShadowOfHarbringer]

For those who are inclined to be paranoid: how do you know that Satoshi isn't already "the government"?

Its not paranoia its realism. We might never know what the motives are for satoshi.

No one is forcing anyone to use bitcoin so its a non issue really.

1. I highly doubt if satoshi is working for govs

2. Even if satoshi is working for government, that is a non issue because bitcoin is Open Source.
It does not matter what are satoshi's motives. Open Sourcing BTC solves everything.

If satoshi will be corrupted/bullied by government, we can always fork BTC ourselves. That is the beauty of OS.

[ShadowOfHarbringer]

OMG, they could force us to wear silly hats too.

As mentioned they already have the money issuing pretty much in hand so I don't think they are going to switch to some cryptocurrency.

Once hyperinflation sets in they might consider it.

Still, nobody can forbid using of "normal" bitcoin instead of govcoin once they put this in motion.
So there will be two way exchanges between govcoin and bitcoin, exactly as it is now between fiat currencies and bitcoin.

[grondilu]

They can't force you to use a money if you don't want to. 

Sure, they can try.  And they have some success.  But the very existence of alternative money such as bitcoin proves you that they are failing.

[Aqualung]

what for? Gov already have money totally controlled by them, so what is the need to make new ones?

When the dollar becomes worthless they will look for a viable alternative and attempt to control it I have no doubt.

you really think that alternative will be digital?
i do not know what should happen to make dollars worthless, but even if that will happen i do not think that gov will force someone to use new currency. You will just use what they will print Or you will not and you will have no money at all)) Or.. you can move to another gov with euros for example or rubles )))

[ribuck]

Just playing devils advocate here

Yes, me too.

For those who are inclined to be paranoid: how do you know that Satoshi isn't already "the government"?

1. I highly doubt if satoshi is working for govs

Personally I'm certain that satoshi is not working for the gov. Bitcoin is clearly the product of an unconstrained mind.

[Anonymous]

what for? Gov already have money totally controlled by them, so what is the need to make new ones?

When the dollar becomes worthless they will look for a viable alternative and attempt to control it I have no doubt.

you really think that alternative will be digital?
i do not know what should happen to make dollars worthless, but even if that will happen i do not think that gov will force someone to use new currency. You will just use what they will print Or you will not and you will have no money at all)) Or.. you can move to another gov with euros for example or rubles )))

I can see such things happening. They would dearly love to get away from cash and use electronic cash cards only.

[Anonymous]

Just playing devils advocate here

Yes, me too.

For those who are inclined to be paranoid: how do you know that Satoshi isn't already "the government"?

1. I highly doubt if satoshi is working for govs

Personally I'm certain that satoshi is not working for the gov. Bitcoin is clearly the product of an unconstrained mind.

Yes I doubt he is. No government would come up with decentralized money supplies. Although satoshi might be an alien dropped off here from planet x with advanced monetary formulas to free mankind from government control.


*downloads another david icke movie...

I am joking of course!

[ShadowOfHarbringer]

Although satoshi might be an alien dropped off here from planet x with advanced monetary formulas to free mankind from government control.
*downloads another david icke movie...
I am joking of course!

LOL ^ (2 x n!), n -> ∞.

[bober182]

Doesn't the government already hate Linux and the Free Software Foundation.
Also if you read Little Brother by Cory Doctorow you will see the power of sneaker net and the hopelessness of the government trying to stop it.
They can take away everything but as long we have notepad and a compiler we can be free.

[ShadowOfHarbringer]

Doesn't the government already hate Linux and the Free Software Foundation.

Government hates everything that it cannot control.
Power hungry sickness.

[bober182]

Government hates everything that it cannot control.
Power hungry sickness.

Authority hungry sickness. ~fixed