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As soon as it becomes big enough, the US govt has the power and ability to effectively 51% the entire network. They haven't yet only because it doesn't threaten
by uoaei 4y ago
As soon as it becomes big enough, the US govt has the power and ability to effectively 51% the entire network. They haven't yet only because it doesn't threaten the dollar.
- bagacrap 4y agoor just, you know, make it illegal, immediately shutting down Coinbase and cutting off the law abiding 99% of the population from using it. What is the value of a Bitcoin after it's banned by one or more major countries?
- olalonde 4y agoSo what? It would cost like 50+ billion dollars to censor the network for a few hours until the mining algorithm is changed.
- uoaei 4y agoYou are aware of how fiat currency works, right? The government can create that money with as much friction as is present in their keyboards. And anyway, they don't actually need to run any new nodes, just compromise communication between them until all the blockchain records on the individual nodes are bunk.