I finally figured out how the government can destroy Bitcoin

pjviitas

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Quote from: Proteus123 on February 01, 2014, 01:31:09 PM

Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept.

+1

The more I think about it the more its seems like crypto-currencies present too much of a moving target for governments or banks for that matter to get a bead on.

I am starting to think that crypto-currencies present a much bigger threat to the sovereignty of nations than I thought.

Is it possible that crypto-currencies may culminate in the grand daddy of all currency wars...or how about world war?

I mean if crypto-currencies are as revolutionary as they seem the establishments around the world won't go down easy. And, when they realize they can't stop crypto-currencies they will probably start fighting amongst themselves which may ultimately lead to world wide destruction.

It's kind of like a zombie movie...once the establishment gets bit they start turning on each other.

jballs

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Quote from: Proteus123 on February 01, 2014, 01:31:09 PM

Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept.

Vertcoin, three steps ahead already.

Proteus123

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Nah. Then all you would have to do is produce a new coin that those ASIC miners no longer work on. Attack subverted, could never kill the concept.

pjviitas

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Quote from: zolace on January 31, 2014, 08:01:39 PM

Let them try to do anything, if they regulate bitcoin, then im moving to the next coin till they get tired.

+1

2bfree

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I'm investigating Crypto Projects

Quote from: pjviitas on January 30, 2014, 11:29:17 AM

Step one: Procure whatever hardware necessary to force difficulty to continue increasing.
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.
Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age.
Step four: Profit.

I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.

That wont work

zolace

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Let them try to do anything, if they regulate bitcoin, then im moving to the next coin till they get tired.

texaschainsaw54

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I like this idea

jballs

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Quote from: hjbuell on January 31, 2014, 06:41:56 PM

Quote from: LostDutchman on January 30, 2014, 11:58:41 PM

And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal.

One of the most knowledgeable comments I've seen on the topic in ages. Well put. DuPont certainly won't be signing off on any sort of long lasting and cheap fabric that can compete with Nylon. Nor will the cotton industry support switching back to hemp fiber clothes - which is the whole reason Levis' 'Jew Pants' were popular with miners back in the day - because they lasted 10x longer than the cotton alternatives.

Well call me an optimist but I believe this will end, and is ending. My own theory but I think it is the upside of social media. Ten years ago referendums would die at the polls, after the media blitzes would paint the picture of doom if ever it were legalized. So even with half the population smoking it would not get through. Now you have everybody on facebook seeing how many of their friend and friends of friends are pro hemp and can actually put names and faces to the enemy, and realize they aren't. I think this is what happened with gay marriage also. People just got over their unwarranted prejudices, or getting over them. Not everyone but enough to turn the tide towards some common sense.

But yes it will be an uphill battle, it has been, and all I can say to that is

Super.Bowl... Seattle vs. Denver.

Sign from God.

Tongue

glendall

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Next Generation Web3 Casino

You could destroy bitcoin but you can't destroy the idea of bitcoin. Cat is out of the bag. It it has been invented.

hjbuell

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Writer $0.10/word +

Quote from: LostDutchman on January 30, 2014, 11:58:41 PM

And the lobbyists work for the fabric industry, the paper industry, the pharmaceutical industry and law enforcement, all of which would suffer it pot were legal.

One of the most knowledgeable comments I've seen on the topic in ages. Well put. DuPont certainly won't be signing off on any sort of long lasting and cheap fabric that can compete with Nylon. Nor will the cotton industry support switching back to hemp fiber clothes - which is the whole reason Levis' 'Jew Pants' were popular with miners back in the day - because they lasted 10x longer than the cotton alternatives.

jballs

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Quote from: Rampion on January 31, 2014, 03:42:07 PM

Quote from: RGBKey on January 31, 2014, 09:17:10 AM

Quote from: jballs on January 30, 2014, 11:56:27 AM

name a thing that costs less on the black market than it costs in a free market. One thing...

Marijuana.

You do realize that Cali or Amsterdam are NOT free markets - right?

Remove prison time and all I need is seeds, water and a couple lights. Or sunshine I suppoes would suffice.

Also true of poppies/

Plants are pretty much free, though I have utmost respect for the art of hybrid cultivation and such, which certainly commands a premium.

But no dice on the question at hand. Legal weed is cheaper. B.C. bud $700 a pound in BC, 3-4k a pound right over the border (although that may have changed drastically since Washington went legal, and also I have not shopped that market for awhile).

hashman

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Quote from: pjviitas on January 30, 2014, 11:29:17 AM

Step one: Procure whatever hardware necessary to force difficulty to continue increasing.
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.
Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age.
Step four: Profit.

I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.

Am I the only one that was thinking you would have a step involving destroying Bitcoin?

Rampion

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Quote from: RGBKey on January 31, 2014, 09:17:10 AM

Quote from: jballs on January 30, 2014, 11:56:27 AM

name a thing that costs less on the black market than it costs in a free market. One thing...

Marijuana.

You do realize that Cali or Amsterdam are NOT free markets - right?

pjviitas

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Quote from: roslinpl on January 31, 2014, 10:35:10 AM

it is realy easy for goverment to ruin bitcoin world.

it is just not good enought reason to do it.

goverments must find a good side of bitcoin for their own.

anyway I guess many from politicians has got hundreds of bitcoins

so why would they stop it?

I have always thought the same thing.

The biggest criminals on the planet go to work in financial districts and government buildings every day. Why would they want to destroy something which helps them launder their money.

In my opinion, bitcoin is the best thing that's happened to the banks and governments in a long time.

roslinpl

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it is realy easy for goverment to ruin bitcoin world.

it is just not good enought reason to do it.

goverments must find a good side of bitcoin for their own.

anyway I guess many from politicians has got hundreds of bitcoins

so why would they stop it?

RGBKey

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Quote from: jballs on January 30, 2014, 11:56:27 AM

Quote from: greyhawk on January 30, 2014, 11:43:36 AM

Quote from: pjviitas on January 30, 2014, 11:29:17 AM

Step one: Procure whatever hardware necessary to force difficulty to continue increasing.
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.
Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age.
Step four: Profit.

I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.

Psht. Gobbledigook. Here's how you kill Bitcoin:

Step 1: Shut down the exchanges.

Step 2: There is no step 2

I seldom use the term but... Lol.

You are going to shut down every exchange in every jurisdiction in the world, including localbit, craigslist, irc?

Outlawing bitcoin trading would send the price to the moon. No sense arguing that point, name a thing that costs less on the black market than it costs in a free market. One thing...

As for OP I came to the same conclusion, about the major pools anyway. That is why i put money in VTC. I dont know if they will fly, but they are moving the ball towards decentralizing again, surely a moving target but altcoin will survive even if bitcoin dies. But i do not really expect the gov to kill it, just regulate it eventually.

Marijuana.

ZKRiNG

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If destroy the actual exchanges and they will move to countries with different laws like happens with piratebay or something like this

tinyteapot

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Quote from: RodeoX on January 30, 2014, 01:20:16 PM

Quote from: tinyteapot on January 30, 2014, 12:34:27 PM

The 'Government' (which one exactly?) won't shut it down, the banks will. They'll come up with their own, and force it upon you. McDonalds, Amazon and WalMart will all eagerly back it, and bitcoin will die.

I don't understand. How are they going to force me to use their alt-coin? And why would acceptance by some of the worlds largest companies cause bitcoin to die?

The adoption by massmarket companies would mean adoption by the massmarket as a whole. Despite the advances bitcoin has made into the conciousness of the general public it is still seen very much as a 'techie' thing. The vast majority of people, especially in the USA, are sheep, and will do what they are told. Capitilism rules, and so the biggest, and not the neccessarily the best wins out. When the banks and major financial institutions who already run everything decide to create their own, it will win. Bitcoin will move underground, and ultimately laws will be brought against it.

Alpaca Bob

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Quote from: greyhawk on January 30, 2014, 11:43:36 AM

Quote from: pjviitas on January 30, 2014, 11:29:17 AM

Step one: Procure whatever hardware necessary to force difficulty to continue increasing.
Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.
Step three: Mop up any remaining centralized mining facilities through either taking them over in the name of national security or bombing it into the stone age.
Step four: Profit.

I wouldn't doubt that the NSA already has this kind of scheme cooked up and ready to deploy.

Psht. Gobbledigook. Here's how you kill Bitcoin:

Step 1: Shut down the exchanges.

Step 2: There is no step 2

You can't shut down localbitcoins, nor will you be able to shut down upcoming decentralized exchanges.

r0ach

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Quote from: pjviitas on January 30, 2014, 11:29:17 AM

Step two: Wait until the power requirements for running a mining setup from a single family dwelling becomes next to impossible.

Yea, Bitcoin is over soon as those 5000 watt USB block eruptor ASICs come out

Topic: I finally figured out how the government can destroy Bitcoin (Read 4224 times)