I wonder if there is a government that USES high-tech machines to master 51 percent of the power.
Topic: governing bitcoin (Read 93 times)
With only 51 per cent of bitcoin's power, the BTC is indirectly controlled.
I wonder if there is a government that USES high-tech machines to master 51 percent of the power.
I wonder if there is a government that USES high-tech machines to master 51 percent of the power.
bitcoin uses a decentralized system, no one governing party (such as a bank) because everyone participates in the process
this means no one can decide on one side or make a new policy that incriminates the owner of this currency.
for example, bitcoin addresses can not be frozen by a party
the core bitcoin is not tied to any institution
this means no one can decide on one side or make a new policy that incriminates the owner of this currency.
for example, bitcoin addresses can not be frozen by a party
the core bitcoin is not tied to any institution
Well if they can they would probably control it by now and stop the development and spreading of the bitcoin all over the world, but they can't because they don't know who is controlling bitcoin, because it is decentralized something they could take advantage upon, which is why they are only imposing regulation and restriction to the people using it.
of course there are ways. what do you think all these fights over the past 3 years were about? it was about scaling but also part of it was from government trying to take control, centralize things and kill the decentralization and push for less privacy and more traceability of bitcoin.
luckily we have fought all of the "hostile take overs" off so far and we need to continue doing so.
luckily we have fought all of the "hostile take overs" off so far and we need to continue doing so.
They can't control cryptocurrencies themselves, but they can control the fiat money you make off of cryptos; by declaring them illegal, for example. In that scenario, even if you had a million bitcoins, you would hardly see any benefit, because you wouldn't be able to cash them out legally.
Can bitcoin be controlled by the government? I just wonder. If they can't ban it, maybe they'll find ways o controlling bitcoin?
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