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Topic: Do you think voting for Bitcoin to become a legal tender was the plan? - page 2. (Read 138 times)

legendary
Activity: 2030
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Professional Community manager
I don't think Satoshi would have want Bitcoin to even become a legal tender.  
There are a couple of other worries Satoshi will have about Bitcoin. Bitcoin as a legal tender is still very rare for it to be a problem, what's more common is storing on centralized wallets which eliminates decentralization.

But I guess that Bitcoin as a legal tender will even make the government to put a very close eye on how every individual is spending their Bitcoin which was not meant to be so.
Government's don't need to make it a legal tender to do that. Taxing bitcoins already means that the government is involved in how you spend your coins and with the help of centralized exchanges they can track and sort addresses and transactions.
hero member
Activity: 1218
Merit: 595
Well, sometimes I look at the creation, price history and even read the white paper of Bitcoin and I would imagine what Satoshi wanted about Bitcoin and if he feels happy with what is going on now.

I don't think Satoshi would have want Bitcoin to even become a legal tender.  Satoshi said Bitcoin is for the common man and woman to accept in payment on agreement, that's a simple p2p. He never wanted authorities or government to come together in agreement for Bitcoiners to use Bitcoin. He wanted every man to do his thing in a decentralized manner. But I guess that Bitcoin as a legal tender will even make the government to put a very close eye on how every individual is spending their Bitcoin which was not meant to be so.

You can add what you think.
To be honest not every person can contribute to the BTC blockchain in terms of Nodes, because hash power is touching the sky and not every person with an ordinary computer would add computation power to the BTC node. But I wonder if there is any way to contribute to the BTC blockchain with my ordinary system with no physical graphic card.

Maybe there is some way of which I am unaware. Please mention if there is any. I can predict that Satoshi must have assumed that the world will not remain the same because computational power will increase, or it has to increase because more adoption of BTC means more congestion on the network and it means we need more computational power to process transactions.

Making BTC a legal tender does not make it centralized, because it will not be controlled by the government. And that's a good thing, but they can keep a close eye on every individual and to do that there is no need for them to adopt it as legal tender.
sr. member
Activity: 336
Merit: 495
Math + Code = Blockchain 😁
The simplest summary is Satoshi NAKAMOTO's aim was to create a currency free from inflation which is now implemented by halving to reduce the amount of Bitcoin in circulation and secondly to create a currency free from control by any entity especially the government.this is where the decentralization of Bitcoin comes into play. The Bitcoin network is not controlled by a single person but by developers ,miners who run nodes and we the users.
Some other reasons include  creating a currency that is impossible to fake.this works for Bitcoin because new validations are stacked in a block format making it more difficult to alter previous blocks.
member
Activity: 294
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★Bitvest.io★ Play Plinko or Invest!
Well, sometimes I look at the creation, price history and even read the white paper of Bitcoin and I would imagine what Satoshi wanted about Bitcoin and if he feels happy with what is going on now.

I don't think Satoshi would have want Bitcoin to even become a legal tender.  Satoshi said Bitcoin is for the common man and woman to accept in payment on agreement, that's a simple p2p. He never wanted authorities or government to come together in agreement for Bitcoiners to use Bitcoin. He wanted every man to do his thing in a decentralized manner. But I guess that Bitcoin as a legal tender will even make the government to put a very close eye on how every individual is spending their Bitcoin which was not meant to be so.

You can add what you think.
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