its more likely that governments will gain control by quietly buying up all bitcoin. Anonymity makes this the most likely scenario. Bitcoin is on open market. Governments can slowly buy up the supply and nobody will even know. The coins will still exist but will be taken from circulation. Anonymity is probably going to be the demise of bitcoin and any other crypto that stays anonymous.
Topic: Could the US government gain control of Bitcoin? - page 2. (Read 1920 times)
This has been eating at me so I figured I would ask you all what you think about this. I don't know if this has been talked about before and if so Im sorry.
We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
Yes, I'm afraid this is possible that they may think about this but it's really question what they will accomplish with this.
Bitcoin users don't like any government control at all so if such scenario happen they will just move to other virtual currency.
In this scenario, US government will just waste their resources and accomplish nothing.
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If they started hoarding bitcoin, it would cause a huge price spike as they suck up all the supply.
They could try, but it would be a waste of time, if they did people would stop using BTC and move elsewhere!
Yes. Cloning bitcoin and having another block chain aren't that hard.
They could try, but it would be a waste of time, if they did people would stop using BTC and move elsewhere!
Firstly, the rest of the world is already pretty sick of relying on the US dollar. If Bitcoin does gain prominence, I can't imagine other sovereign nations would sit back and watch while one country tried to dominate the next incarnation of money.
Secondly, and more importantly, there's little financial incentive for them. Their current fiat system is skewed in favour of the wealthy and that's how they like it. If you were in control of a system where you could print money out of thin air and give it to your wealthy friends so they can use it to gamble for free and also fund your next election campaign, would you also then want control of a system that doesn't let you do those things? They'd have no interest whatsoever in being in charge of a system that doesn't benefit them and their campaign donors financially. Particularly for the amount they'd have to spend for even a chance to make it happen. And even if they did gain control, we'd trade for the next currency on a new algorithm and they'd have to try again.
Secondly, and more importantly, there's little financial incentive for them. Their current fiat system is skewed in favour of the wealthy and that's how they like it. If you were in control of a system where you could print money out of thin air and give it to your wealthy friends so they can use it to gamble for free and also fund your next election campaign, would you also then want control of a system that doesn't let you do those things? They'd have no interest whatsoever in being in charge of a system that doesn't benefit them and their campaign donors financially. Particularly for the amount they'd have to spend for even a chance to make it happen. And even if they did gain control, we'd trade for the next currency on a new algorithm and they'd have to try again.
hopefully they buy some Litecoins too 
, or we all will switch to that. pretty expensive for the Gov.
, or we all will switch to that. pretty expensive for the Gov. 
That is what they trying to do know as you can see bitcoin have a lot a future and a lot of use .
This has been eating at me so I figured I would ask you all what you think about this. I don't know if this has been talked about before and if so Im sorry.
We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
Of course, yes. We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
They could do it without even developing their own mining hardware.
It would be a futile waste of money, however, as people would move to a new coin that has technology preventing this.
This has been eating at me so I figured I would ask you all what you think about this. I don't know if this has been talked about before and if so Im sorry.
We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors. Which we would know to lead to think tanks about regulation. What if the government was planning to mine a large portion of the coin themselves. Im not talking about buying a room full of 6th miners. Im talking about them using something like these NSA datacenters. Building their own high tech hardware that would put our best miners to shame. Would it be possible for the government to miner a large enough portion of the wealth that they would hold controlling interest?
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