RE: Will Proof of Work Continue to be Stable when the Block Reward Becomes Incentively Insignificant? by zoidsoft

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bitcoin · @zoidsoft · Apr 21 '18

On the contrary, I suspect government will do everything they can to meddle with the blockchain.  It's just that their means are somewhat limited with bitcoin core writing the rules.  If they take over Bitcoin Core and the miners, then the threat becomes network non-use and a flight into altcoins.

👍 saafir

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@conceptskip · Apr 22 '18 (edited)

$0.19

Hehe, don't some suspect the CIA being behind Satoshi Nakamoto, because like with Facebook, people give up their privacy voluntarily.
Sure governments try to meddle if they can, but as you said, they didnt suceed, but business wise btc might be close to be cracked,  with now the majority of hashpower being centralised with a few mining pools based in China (oh  here comes politicas again!)

👍 zoidsoft

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@zoidsoft · Apr 22 '18

If mining is controlled by government, they are still very limited in what they can do.  They still can't reverse transactions without completely damaging the trust which would cause a flight into altcoins.  The subsequent fork that would ensue would result in some in the world (who hate the USA) to rewrite the protocol.  They are also back into the paradigm of limited money which puts government in a straight jacket of spending and accountability if bitcoin becomes the only currency.  If they change the algorithms to include inflation, again it will cause flight into alts...

https://youtu.be/joITmEr4SjY

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