This is an interesting article discussing many points related to the ascent and history of money and how money became synonymous with power and control down through the ages and much more today as we now modern and more sophisticated. This power and control exercised by the government as handed through the ages can be the number reason why Satoshi Nakamoto decided to left Bitcoin otherwise he would be a subject to possible harassment and many forms of shenanigans from the authorities.
Enjoy reading. And please share your ideas and opinions on this topic here.
The Hydra. In decentralized systems, there is no head of the snake. Decentralized systems are a hydra. Cut off one head and two more pop-in to take its place.
“Governments are good at cutting off the heads of centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.” And the first decentralized system of money was born: Bitcoin.
It was explicitly designed to resist coercion and control by centralized powers. Satoshi wisely remained anonymous for that very reason. He knew they would come after him because he was the symbolic head of Bitcoin.
That’s what’s happened every time someone has come forward claiming to be Satoshi or when someone has been “outed” by the news media as Bitcoin’s mysterious creator. When fake Satoshi Craig Wright came out, Australian authorities immediately raided his house. The official reason is always spurious.
The real reason is to cut off the head of the snake. As Bitcoin rises in value, the hunt for Satoshi will only intensify. He controls at least a million coins that have never moved from his original wallets. If VC Chris Dixon is right and Bitcoin rocket to $100,000 a coin, those million coins will shoot up to $100 billion. If it goes even higher, say a $1 million a coin, that would make him the world’s first trillionaire. And that will only bring the hammer down harder and faster on him. You can be 100% sure that black ops units would be gunning for him around the clock.Read more about this here. Agree and disagree. Article aside, it is clear to me that the government (the US, for me) simply doesn't care enough about bitcoin to act in a serious way. Why? It's too easy to 51% attack as a state actor. Most govs have billions of dollars at their disposal. If any government cared enough to subvert bitcoin, they would contract out some epic tech firm to make a bitcoin miner 2.0, or a million kajillion standard miners. They would be able to control the network quite easily at that point; it would take the efforts of another state actor to stop something so monolithic. *cough* China *cough*. Much easier to simply make a new coin; I would jump ship my damned self if a major gov distributed a Crypto backed by a nation. People begrudgingly trust BTC, but folks have been trusting USD for time immemorial.
Ironic.
PS: China is sooo subsidizing Bitmain. Don't tell anyone
