jballs
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 07:28:47 PM |
|
Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing... All kinds of things... Guns for example. nope, huge markup for black market guns. Hard for me to nail down here but ask any soldier whose country was under UN arms embargo during or prior to conflict (Croats and Kosovars maybe easier to find than Syrians or Iraqis but...well probably some of any of them around here). Same holds true anywhere they are banned.
|
|
|
|
subcoin
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 100
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 07:31:02 PM |
|
how the government can destroy Bitcoin 1. "Issue Guidance" 2. Threaten legal action against exchanges, miners and users 3. Done Total expenses: less than $100k That will not completely destroy it, but will make it illegal on par with drugs. That will also cover all other cryptos and alike. To predict what government will do, you need to think the way government does. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fcdn.howtogeek.com%2Fwp-content%2Fuploads%2F2010%2F10%2Fimage339.png&t=665&c=q9Ghg6gxo2cW5A)
|
|
|
|
hjbuell
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 70
Merit: 10
Writer $0.10/word +
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 08:09:51 PM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
Being different is all it takes to make a difference. H. J. Buell Writer from $0.10 per word. https://hjbuell.com
|
|
|
illpoet
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 10:44:33 PM |
|
i see governments creating their own blockchains and trying their hardest to sell them to their respective citizens. they could offer tax breaks to their companies to accept govcoin over bitcoin. So you could pay your electric bill or buy groceries with govcoin but not bitcoin. It could be closed source and do all kinds nice data mining.
|
Tym's Get Rich Slow scheme: plse send .00001 to btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt thank you.
|
|
|
gutshot
Newbie
Offline
Activity: 31
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 11:29:03 PM |
|
The only reason people mine bitcoin is because they can either spend it or convert it to fiat.
The only reason merchants accept it, is because they can convert it to fiat.
If you shut down the exchanges bitcoin will die. The only way this wont happen is if the merchants suppliers will also except bitcoin and you can basically spend it everywhere for everything, then it truly does become a worldwide currency in its own right.
It would be impossible for every exchange in every country of the world to be shut down - there will always be one and if there is one there is a way!
Long and short of it is - the government cant destroy bitcoin through any of the above means.
There is however one sure-fire way the government can destroy the currency and that is to destroy peoples confidence it...
Crack SHA-256, make it public - show the coin as vulnerable and insecure - who would even want to use it then?
|
|
|
|
Anacronix
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
the cake is a lie
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2014, 11:41:38 PM |
|
It can always be forked and upgraded to ... SHA-3 for example ? So , no , cracking sha256 wouldn't kill it, in my opinion.
|
|
|
|
pjviitas (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 01:30:41 AM |
|
Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit.
I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.
Well, as far as power requirements go, they would have to push things beyond 400 amps (88,000 watss; 88KW) before things would affect me. I kinda doubt that will happen but you do have an intersting hypothesis. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) That's certinaly a lot of power you are using and not counting others who are mining with amazing machines it would take too much money to defeat Bitcoin this way. I am not using all the power yet but also have two other rent-free locations with the same 400 amp incoming. I intend to use up at least 85% of the available incoming with scryptcoin mining rigs, both for myself and my corporation. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Most single family dwelling built in the last 10 years or so have 200A services and strata complex units are usually 100A services. With that being said its not hard to still find 60A services. In any event the typical distributed miner is going to need to have some kind of balance in his life for other things besides mining. So lets say the family is fine with the miner dedicating a room for mining hardware and lets assume that this room has its very own 15A breaker. Assuming a power factor of 1, a 15A breaker will allow you to draw 1.8kW of power which translates to roughly 1TH/s of mining hardware. With a constantly increasing difficulty, come May or June, you will need around 1TH/s of hardware in order to earn 1BTC/month. In a nutshell, miners will increasingly be faced with the decision to either move to centralized mining or become a professional miner and start making plans to build a server room. Once enough mining becomes centralized, taking over or destroying these centralized facilities is like shooting fish in a barrel for any government that has decent skills at subversion. Like some of the prior posts state I believe that other crypto-currencies are the only way to ensure that mining stays distributed and healthy. When we see things going south with one crypto-currency just move all your coins to the next one.
|
|
|
|
LostDutchman
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 02:32:27 AM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
|
|
|
|
jballs
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 02:51:51 AM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it.
|
|
|
|
LostDutchman
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 03:47:45 AM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
|
|
|
|
jballs
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 03:55:29 AM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) he is just a president, I think a lot of you guys have some serious cognitive dissonance when it comes to Obama for some reason. Anyway lobbyists change federal law, congress signs off on it when they are told, I am sure we all know that here.
|
|
|
|
LostDutchman
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 03:58:41 AM |
|
Criminalization would shut it down. With wholesale legalization of marijuana on the way in the near future, chances are no one would notice anyway. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I would remind you that pot is still highly illegal under federal law and that The Chosen One does not support legalisation. Sooner or later the Feds will drop the legal hammer on those states attempting to legalise pot. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) No they won't and the Chosen One has 35 months until he hits the road. There will be 10 more states decriminalized by then. Drug War must end, social media will end it. Only Congress can change Federal law and then The Chosen One must sign the bill. Ain't gonna happen. My $.02. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) he is just a president, I think a lot of you guys have some serious cognitive dissonance when it comes to Obama for some reason. Anyway lobbyists change federal law, congress signs off on it when they are told, I am sure we all know that here. And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal. Need I write more? ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
|
|
|
|
AltorXP
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 71
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 05:57:59 AM |
|
If the banks wanted BitCoin gone by now, this forum nor BitCoin would exist And since most governments don't seem to treat it as a major threat, I don't think any would spend billions on putting this into effect
|
|
|
|
maurya78
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 06:01:01 AM |
|
Good for you mate
Keep it coming
|
|
|
|
Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 11:14:52 AM Last edit: January 31, 2014, 11:29:50 AM by Rampion |
|
how the government can destroy Bitcoin 1. "Issue Guidance" 2. Threaten legal action against exchanges, miners and users 3. Done Total expenses: less than $100k That will not completely destroy it, but will make it illegal on par with drugs.That will also cover all other cryptos and alike. To predict what government will do, you need to think the way government does. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fcdn.howtogeek.com%2Fwp-content%2Fuploads%2F2010%2F10%2Fimage339.png&t=665&c=q9Ghg6gxo2cW5A) True, and we all know that by making them illegal the Gov. has "destroyed" drugs, its almost impossible to find them and when you found them they cost nothing. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) But yes, if Gov. would "ban" bitcoin expect as similar scenario as we have with drugs - first thing, a very high price.
|
|
|
|
Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 11:17:32 AM |
|
No they can't. You're an ignorant fool. Please acquire more knowledge before spreading FUD.
|
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
|
|
|
r0ach
Legendary
Offline
Activity: 1260
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 11:30:38 AM |
|
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.
Yea, Bitcoin is over soon as those 5000 watt USB block eruptor ASICs come out
|
|
|
|
Alpaca Bob
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 12:25:16 PM |
|
Step one: Procure whatever hardware necessary to force difficulty to continue increasing. Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible. Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age. Step four: Profit.
I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.
Psht. Gobbledigook. Here's how you kill Bitcoin: Step 1: Shut down the exchanges. Step 2: There is no step 2 You can't shut down localbitcoins, nor will you be able to shut down upcoming decentralized exchanges.
|
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
|
|
|
tinyteapot
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 12:46:33 PM |
|
The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die.
I don't understand. How are they going to force me to use their alt-coin? And why would acceptance by some of the worlds largest companies cause bitcoin to die? The adoption by massmarket companies would mean adoption by the massmarket as a whole. Despite the advances bitcoin has made into the conciousness of the general public it is still seen very much as a 'techie' thing. The vast majority of people, especially in the USA, are sheep, and will do what they are told. Capitilism rules, and so the biggest, and not the neccessarily the best wins out. When the banks and major financial institutions who already run everything decide to create their own, it will win. Bitcoin will move underground, and ultimately laws will be brought against it.
|
|
|
|
ZKRiNG
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 99
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 31, 2014, 01:05:05 PM |
|
If destroy the actual exchanges and they will move to countries with different laws like happens with piratebay or something like this
|
Ɖ: D5b1ZAM3SodS7p1o2h6Wk74D9My4HVynYy || ฿ : 1FdWjXRdtk6GghmmHN5MFvrQgcatR1Mjx3 Ł: LTuqhfA2VJcC5d5ZQGX3pR3C8Ku4P51nHH || Ψ: AaHkji4brP26Yfs84GPp1RZ9a5mUiPL4bY
|
|
|
|