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Author Topic: why mining bitcoin will eventually belong to the Government ?  (Read 887 times)
noobtrader (OP)
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October 20, 2014, 03:36:09 PM
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because government can even put bitcoin miner on ther sattellite if necessarry.

"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
RodeoX
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October 20, 2014, 03:40:20 PM
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because government can even put bitcoin miner on ther sattellite if necessarry.

Why would they do that? And what government will eventually own bitcoin, Burkina Faso?


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schutzhund
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October 20, 2014, 03:41:05 PM
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because government can even put bitcoin miner on ther sattellite if necessarry.


Is this a joke. They can't even get a hold of seized coins and you are talking about mining.  Cheesy
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October 20, 2014, 04:00:06 PM
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because government can even put bitcoin miner on ther sattellite if necessarry.

So you're saying that nobody else in the world can launch a satellite, be it a small or huge one?  Cheesy
This thread is just stupid and wrong.

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noobtrader (OP)
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October 20, 2014, 05:20:12 PM
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because government can even put bitcoin miner on ther sattellite if necessarry.

Why would they do that? And what government will eventually own bitcoin, Burkina Faso?



well,

lot of goverment are interested in implementing bitcoin, or their own cryptocoin.

but i can still see in the future that mega miner or gov start sending sattelites or microsatellites to mining bitcoin or their crypto coin.


"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
RodeoX
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October 20, 2014, 05:54:14 PM
 #6

because government can even put bitcoin miner on ther sattellite if necessarry.

Why would they do that? And what government will eventually own bitcoin, Burkina Faso?



well,

lot of goverment are interested in implementing bitcoin, or their own cryptocoin.

but i can still see in the future that mega miner or gov start sending sattelites or microsatellites to mining bitcoin or their crypto coin.


It certainly is true that any government can start mining. However I don't get why a satellite would help? A rig in space would be extremely expensive, hard to maintain, and less profitable than a server farm on Earth. 
Other governments, like Canada, tried creating their own digital currency. But they are not decentralized or open source, so they are not trusted and have few of the features that are attractive about bitcoin. There is really nothing a government can do about bitcoin.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf
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noobtrader (OP)
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October 20, 2014, 06:19:59 PM
 #7

because government can even put bitcoin miner on ther sattellite if necessarry.

Why would they do that? And what government will eventually own bitcoin, Burkina Faso?



well,

lot of goverment are interested in implementing bitcoin, or their own cryptocoin.

but i can still see in the future that mega miner or gov start sending sattelites or microsatellites to mining bitcoin or their crypto coin.


It certainly is true that any government can start mining. However I don't get why a satellite would help? A rig in space would be extremely expensive, hard to maintain, and less profitable than a server farm on Earth. 
Other governments, like Canada, tried creating their own digital currency. But they are not decentralized or open source, so they are not trusted and have few of the features that are attractive about bitcoin. There is really nothing a government can do about bitcoin.


because the electricity will be free and can be operated without internet, it will be like gps for cryptocurrency.


"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
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