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Board Beginners & Help
Re: Bitcoin weak spot - or did nobody see this?
by
smilem
on 24/07/2011, 23:10:22 UTC
well companies that provide the basis like water supply, gas, electricity mostly are prive in my country too, but government owns 51% of all shares in those companies. So that means that government has total control what those companies do.

Also, don't forget that it's very easy to filter internet protocols what software is allowed what not. If there is a law in US passed to exclude bitcoin traffic so ISP will do it by law. How will you (we) trade then? By using proxy? What kind of currency is that nobody but terrorists accepts anyway?

I for one care how much transactions cost, but if the seller that has some goods i need and price is OK does not accepts bitcoins because it has been prohibited by law. I'll buy elsewhere with normal money rather then searching for another seller with same item / price combo.

Furthermore I think the inventor of bitcoin never thought about GPU mining in the first place. I want to say that in my eyes more peopple should have been given a chance to get easy money when it was easy to mine. And now its impossible in solo whatever computer you have. That way bitcoin closes itself from majority of potential future users. Come on now 1USD 14BTC ? what money is that gambling or investing might be good if the value rises, but then if the goal was "cash for internet" - bitcoin failed already.

One day somebody will say- "there was a money with 8 decimal places it's greatest strength and its cause of death (because it's hard to use when prices are in 0.00000001)