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Again though, sanctions work for manufacturing but not for cryptocurrencies. Iran is sanctioned from banking from the US and EU but is still a major Bitcoin min
by paulgb 6y ago
Again though, sanctions work for manufacturing but not for cryptocurrencies. Iran is sanctioned from banking from the US and EU but is still a major Bitcoin mining center.
- phpnode 6y agoAll it takes is for the US and EU to ban cryptocurrency itself and the problem goes away. It doesn't matter if mining is done in countries beyond their borders because the demand will go through the floor and those countries will have no incentive to keep wasting energy on it. The idea that cryptocurrency is beyond government control is fundamentally wrong. Most people don't want to be criminals.
- paulgb 6y agoYes, they could block the fiat pipes out instead of the crypto pipes in. Even if it wasn’t a perfect plug, it would devastate the prices and might cause the whole industry to unravel.