Quote from: GideonGono on November 29, 2019, 12:39:04 PM

Quote from: Vishnu.Reang on November 28, 2019, 02:33:21 PM

Quote from: wheelz1200 on November 28, 2019, 02:12:50 PM

Quote from: NeironixNV on November 28, 2019, 06:41:42 AM

Purely theoretically, China can take control of bitcoin, as He is one of the leaders in Bitcoin mining. But I do not think that he will do this, now China is more interested in creating its own crypt, which will be 100% under its control. https://neironix.io/news/china_plans_release_national_dcrp

China cant take control of bitcoin no one can! That is the beauty of the network. Can someone theoretically 51% it yeah, but the economic incentive is not there to 51% it. How do peoe think that a single government entity can take over bitcoin...I dont think you understand how bitcoin runs.

Economically it may not make much sense. But from a government point of view, it can make a lot of sense. They can spend a few billion USD and destroy the credibility and reputation of Bitcoin forever. But spending such a huge amount of money from this purpose can never be defended before the public, unless they can prove a credible link between either crime or terrorism with Bitcoin. Well... they will never get such a link, because it does not exist.

Thats a lot of money and if they do use it to destroy Bitcoin then that would mean that 90% of that amount can only be returned to them. The thing is that it is not worth it to use that amount to destroy Bitcoin but rather they should use it to a more productive way that would help and benefit their country. They dont need to defend this decision to the people because in the first place they would not make this decision of wasting the money of the people.

Just in case, the American government goes insane and prints some insane amount of dollar, that may or may not hurt bitcoin but definitely kill dollar and it will lose its worth. Which means the coin wont remain as the super power. This is not going to happen at all. Even if dollars keeps on losing its worth, bitcoin will be surging up. USD is the standard currency used in international market.