4 ms·

Wrench-attacking one person is easy. Wrench attacking 10% of your population is impossible. In CS terms - Digital Central Bank money is O(1) to control. Bitcoi

Wrench-attacking one person is easy. Wrench attacking 10% of your population is impossible. In CS terms - Digital Central Bank money is O(1) to control. Bitcoin is O(n2).

jiggywiggy 4y ago
If that would be needed it would be taken into control
colechristensen 4y ago
It’s not though and nobody needs a wrench. Pretty easy to prevent any institution to exchange crypto for dollars and then you have a black market only currency with a plummeting value and usage which is criminal.
AlexandrB 4y ago
> Wrench attacking 10% of your population is impossible. With digital goods/currencies, you just need to compromise their software. It's actually a lot easier, logistically, to confiscate bitcoin from 10% of your population than to confiscate cash from the same. How hard and for how long do you think Apple/Microsoft/Google could resist a legal mandate to block/confiscate bitcoin passing through the computer/phone OS that you use?
- latchkey 4y ago
  > How hard and for how long do you think Apple/Microsoft/Google could resist a legal mandate to block/confiscate bitcoin passing through the computer/phone OS that you use? FB used a fun technique to get into the Vietnamese market. They got enough users onboarded that the government had no choice but to let people use their apps or face a huge amount of backlash for denying people access.
unicornmama 4y ago
Peasant: You can’t take our Bitcoins! King: That’s a nice house you have. Give 1000 Francs per year to our treasury OR ELSE. Peasant: Anyone got Francs? I’ll trade you these shiny Bitcoin.
sudosysgen 4y ago
Actually it's really easy. It works in exactly the same way we did it with cash. You wrench attack and punish those that don't comply and the rest will comply willingly. Of course if 10% of people decide they don't care about the law anymore you have a problem anyways but we're not there.

Wrench-attacking one person is easy. Wrench attacking 10% of your population is impossible. In CS terms - Digital Central Bank money is O(1) to control. Bitcoin is O(n2).

jiggywiggy 4y ago

If that would be needed it would be taken into control

colechristensen 4y ago

It’s not though and nobody needs a wrench. Pretty easy to prevent any institution to exchange crypto for dollars and then you have a black market only currency with a plummeting value and usage which is criminal.

AlexandrB 4y ago

> Wrench attacking 10% of your population is impossible. With digital goods/currencies, you just need to compromise their software. It's actually a lot easier, logistically, to confiscate bitcoin from 10% of your population than to confiscate cash from the same. How hard and for how long do you think Apple/Microsoft/Google could resist a legal mandate to block/confiscate bitcoin passing through the computer/phone OS that you use?

latchkey 4y ago
> How hard and for how long do you think Apple/Microsoft/Google could resist a legal mandate to block/confiscate bitcoin passing through the computer/phone OS that you use? FB used a fun technique to get into the Vietnamese market. They got enough users onboarded that the government had no choice but to let people use their apps or face a huge amount of backlash for denying people access.

unicornmama 4y ago

Peasant: You can’t take our Bitcoins! King: That’s a nice house you have. Give 1000 Francs per year to our treasury OR ELSE. Peasant: Anyone got Francs? I’ll trade you these shiny Bitcoin.

sudosysgen 4y ago

Actually it's really easy. It works in exactly the same way we did it with cash. You wrench attack and punish those that don't comply and the rest will comply willingly. Of course if 10% of people decide they don't care about the law anymore you have a problem anyways but we're not there.