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Also in such a situation, consensus could be reached easily on doing a hard fork. Government's effort would go waste on the original one. They can repeat, but i
by aws_ls 9y ago
Also in such a situation, consensus could be reached easily on doing a hard fork. Government's effort would go waste on the original one. They can repeat, but it will take some time, and the hard fork can happen again, until govt gives up.
A better approach by any government could be to declare it as illegal (just like drugs). By doing so, they can't eliminate it, but just curtail demand.
- omarforgotpwd 9y agoThey could certainly cause a lot of trouble, but rather than continuously hard forking I bet people would just add hashing power to the network like crazy. It's basically the government vs everyone in the world. If the value of BTC was threatened, I'm sure a lot of hash power could get added into the network. Can the US government outspend and outpace everyone else in the world teamed up against them? It would be challenging logistically for sure, even if you had the money.
- imtringued 9y agoDo you think miners can switch faster to the hardfork than the government? The government can just redirect their entire mining pool at once to a new hardfork wheras miners are independent and convincing them to switch will take time.