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cafucafucafu (OP)
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October 10, 2014, 03:54:43 PM |
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Governments making their own blockchains. They are already thinking about it and will want to get all the benefits of BTC while having their own currency. SO e.g. the dollar will become digital with its own blockchain.
Do you think this is a real threat?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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chenka563
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October 10, 2014, 03:56:23 PM |
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no people will use that so that BTC will be safe!
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DannyHamilton
Legendary
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Activity: 3388
Merit: 4653
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October 10, 2014, 03:57:44 PM |
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Do you think this is a real threat?
No. There is no benefit to a government to publish their own blockchain completely under their control. If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all. The purpose of the blockchain is to provide a decentralized consensus among the users. |
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cafucafucafu (OP)
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October 10, 2014, 04:05:14 PM |
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Do you think this is a real threat?
No. There is no benefit to a government to publish their own blockchain completely under their control. If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all. The purpose of the blockchain is to provide a decentralized consensus among the users. Limiting fraud is a benefit. |
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Mr Crabs
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Activity: 91
Merit: 10
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October 10, 2014, 04:07:45 PM |
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Are alt coins a big threat to bitcoin? Not really. Maybe they would be if they can offer something much better or get more people to use them, but they don't. I think btc is safe from governments this way.
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drrussellshane
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October 10, 2014, 04:11:05 PM |
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Do you think this is a real threat?
No. There is no benefit to a government to publish their own blockchain completely under their control. If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all. The purpose of the blockchain is to provide a decentralized consensus among the users. Limiting fraud is a benefit. Not for the fraudsters. |
Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
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cafucafucafu (OP)
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October 10, 2014, 04:25:46 PM |
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Are alt coins a big threat to bitcoin?
Alt coins are not government backed. A national digital coin would be a greater incentive for the masses. |
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DannyHamilton
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Activity: 3388
Merit: 4653
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October 10, 2014, 04:26:57 PM |
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Are alt coins a big threat to bitcoin?
Alt coins are not government backed. A national digital coin would be a greater incentive for the masses. But a national digital coin does not require a blockchain. As I said, there is no benefit to a government to implement their own blockchain. |
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RodeoX
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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October 10, 2014, 04:27:42 PM |
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No threat at all. A coin that is controlled by the government and can only be used in one country vs. Bitcoin? No threat at all.
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DannyHamilton
Legendary
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Activity: 3388
Merit: 4653
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October 10, 2014, 04:29:34 PM |
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There is no benefit to a government to publish their own blockchain completely under their control.
If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all.
The purpose of the blockchain is to provide a decentralized consensus among the users.
Limiting fraud is a benefit. There is nothing about a blockchain that makes it easier for a government to prevent the fraud of others. The only thing a blockchain does is take control of the currency away from the creator. |
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cafucafucafu (OP)
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October 10, 2014, 05:26:57 PM |
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There is no benefit to a government to publish their own blockchain completely under their control.
If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all.
The purpose of the blockchain is to provide a decentralized consensus among the users.
Limiting fraud is a benefit. There is nothing about a blockchain that makes it easier for a government to prevent the fraud of others. It stops counterfeit money. |
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ruletheworld
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Activity: 1386
Merit: 1045
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October 10, 2014, 05:48:59 PM |
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There is no benefit to a government to publish their own blockchain completely under their control.
If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all.
The purpose of the blockchain is to provide a decentralized consensus among the users.
Limiting fraud is a benefit. There is nothing about a blockchain that makes it easier for a government to prevent the fraud of others. It stops counterfeit money. Any centralized digital ledger would do the same, there is absolutely no need for a blockchain. In fact, a blockchain would be a terrible misuse of computing resources for a government to implement their version of a digital currency. |
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DannyHamilton
Legendary
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Activity: 3388
Merit: 4653
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October 10, 2014, 07:53:37 PM |
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There is no benefit to a government to publish their own blockchain completely under their control.
If they want a digital currency, they can do so in a centralized way. Doing so has no need of a blockchain at all.
The purpose of the blockchain is to provide a decentralized consensus among the users.
Limiting fraud is a benefit. There is nothing about a blockchain that makes it easier for a government to prevent the fraud of others. It stops counterfeit money. You aren't paying attention. The purpose of a blockchain is to establish a decentralized consensus. A government operated digital currency has no use for decentralized consensus. A centralized digital currency without a blockchain stops counterfeit money just as well as a blockchain based one. Please take some time to learn a bit and ask some reasonable questions before making assumptions about things you don't understand. I won't be repeating this again here. |
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