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Author Topic: Governments and Bitcoin Mining  (Read 931 times)
Anonymous...
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December 13, 2011, 07:30:04 PM
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There's been a lot of discussion in regards to governments such as China mining Bitcoins. Many hold this has a significant threat to Bitcoin's decentralized form. I find this unfounded considering many competing governments would begin mining Bitcoin in such a scenario; not just one. There are too many competing desires on this planet for Bitcoin to just stand under one.

Is there any real threat to Bitcoin besides the destruction of the internet itself?
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December 13, 2011, 08:12:12 PM
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Sorry i cant answer your question but if china started mining full on we should just stop now as their is no hope Cheesy

http://minefield.bitcoinlab.org/?r=Kc5jVft95EusInob make some spare change with playing mine field
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December 13, 2011, 08:17:40 PM
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Sorry i cant answer your question but if china started mining full on we should just stop now as their is no hope Cheesy
Heh, if China got onto it, the rest of the world would surely notice. Why would their be no hope?
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December 13, 2011, 09:16:35 PM
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I really don't think that Bitcoin economy with its ~25 million $ volume is any threat to any government or bank. We have a low profile for now. Let's see what happens if the volume is > 1000 million $. Then it's going to be a real problem for governments especially because of money laundering and tax evasion.

The entire universe is based on survival of the fittest. If Bitcoins can not survive the attacks from outside, some other crypto currency will evolve with better defenses. The future is crypto currency. Every destruction till then is just a lessons learned.
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