Re: What happens if everyone starts using Xapo for Bitcoin transactions?
This is the type of scenario that we are trying to avoid. Xapo is a centralized service. What does this mean to you? Well,
centralized services are being targeted by governments and they are also being forced to do what these governments wants
them to do. If the US government wants to stop donations to Wikileaks for instance, then they can persuade or coerce Banks
and PayPal {centralized entities} not to allow transactions to these organizations. We do not want that. These centralized
services are soft targets for governments and they can be taken down.
centralized services are being targeted by governments and they are also being forced to do what these governments wants
them to do. If the US government wants to stop donations to Wikileaks for instance, then they can persuade or coerce Banks
and PayPal {centralized entities} not to allow transactions to these organizations. We do not want that. These centralized
services are soft targets for governments and they can be taken down.
I already mentioned this scenario is not possible considering the decentralized nature of Bitcoin, but what if that happens in theory? Then will Bitcoin mining become non-existent?