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There is no chance the US (nor China if it takes control) gives up the dominance of its currency. Both state actors have more than enough means to squash Bitco
by throwaway6734 5y ago
There is no chance the US (nor China if it takes control) gives up the dominance of its currency.
Both state actors have more than enough means to squash Bitcoin or any other crypto
- rawtxapp 5y agoWhich is why I say the toughest battles are ahead. Once US decides to use every tool in the toolbox to undermine Bitcoin, Elon's tweets are going to look like a joke. They can ban on/off-ramps, they can crater it's value by making it illegal, but they can't stop the network itself, in the same way that torrents are still very much alive today.
- throwaway6734 5y agoThey can also physically attack miners/users and cyber attack miners and exchanges
- only_as_i_fall 5y agoThey can literally stop the network though by perpetrating their own attacks. Even if the bitcoin network is perfectly secure to a subtle cyber attack in the vein of stuxnet, all the US or any major power would need to do is bring the mining power low enough that it can undermine the block chain through brute force. Honestly seems more likely to be a tactic employed in China though due to the more top down nature of that country's power structure.