[2017-03-19]New Academic Paper Suggests Bitcoin is Resistant to State Control

notthematrix

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Quote from: Iranus on March 19, 2017, 03:15:10 AM

But unfortunately, it isn't resistant to private control. The richest private companies could quite easily monopolise mining as Bitmain is already starting to do. Sometimes, decentralisation can just mean centralisation in an equally corrupt private sector - mining needs to nearly as accessible as spending with Bitcoin, otherwise there will never be a diverse collection of companies which make the industry decentralised.

It is wait a while... Wha's happening now is all been done.
Bitcoin can work as a golden standard in the soon coming time fiat money fails....

Iranus

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But unfortunately, it isn't resistant to private control. The richest private companies could quite easily monopolise mining as Bitmain is already starting to do. Sometimes, decentralisation can just mean centralisation in an equally corrupt private sector - mining needs to nearly as accessible as spending with Bitcoin, otherwise there will never be a diverse collection of companies which make the industry decentralised.

digaran

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Of course if CIA and other misfits of a government start using their brains instead of looking over their shoulders for imaginary enemies and heavily accumulate bitcoins then we all know what will happen.
You should not treat bitcoin as a regular currency but rather saving them for another 10 years and then start using it as currency.

runningm520

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A new academic paper, entitled “Bitcoin: Order without Law in the Digital Age”, explores the “fundamental structure” of Bitcoin. The paper seeks to show “how its decentralized order contrasts with currency regimes”. Highlighting how technology has changed our lives, the paper notes how – with the advent of Bitcoin – even modern currency is not exempt from the steady march of technological progress.
The paper highlights how bitcoin can “perform the functions of currencies without the traditional law of currency”. The paper also adds that Bitcoin’s global and distributed approach to order without law, as opposed to more spatially-close communities, is novel. “Order without some forms of law is nothing new”, the paper reads. “But previously most forms of order without law depended on relatively close-knit communities”.
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read more:https://news.bitcoin.com/new-academic-paper-suggests-bitcoin-resistant-to-state-control/

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