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Most of the hash power is currently contributed by large scale miners. Shutting just them down would cripple thing considerably. Then they could go after the me
by BobbyJo 6y ago
Most of the hash power is currently contributed by large scale miners.
Shutting just them down would cripple thing considerably. Then they could go after the methods of organizing pools, but I suspect that wouldn't be necessary.
For large economies, just saying it's illegal without enforcing anything at all would be massive blow, since blockchains' only current use case is speculation. If the the US government said tomorrow 'bitcoin is illegal' the price would crash to the point that mining no longer even made financial sense.
- bingbong70 6y agoMy understanding is that bitcoin trading increases when governments ban it...Streisand and a few other effects at work here.
- frankenst1 6y ago> Shutting just them down would cripple thing considerably. Not really, Bitcoin accounts for a reduction in hashrate by adjusting the mining difficulty every 2015 blocks (~2 weeks). > Then they could go after the methods of organizing pools, but I suspect that wouldn't be necessary. Not possible if they are organized via secured networks like TOR.