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> Can the government seize Bitcoin directly? No. A government could seize miners, and given that ~50% of the world's Bitcoin mining capacity appears to be loca
by microtherion 6y ago
> Can the government seize Bitcoin directly? No.
A government could seize miners, and given that ~50% of the world's Bitcoin mining capacity appears to be located in one country, that might give them considerable leeway to rewrite the blockchain to their liking.
- doggosphere 6y agoYes. The solution to this is a software fork.
- microtherion 6y agoDid you mean "soft fork", or are you thinking of a different concept I'm not familiar with? Forks can and have been used to deal with isolated malicious incidents, but do you think they can be successful against an actor in extended control of a substantial part of the hash rate?
- doggosphere 6y agoYou can alter the hashing algorithm to one that is more ASIC resistant. Monero did this.