If a government would want that much to get bitcoin eliminated from the economy they will not target the chain or nodes or the hash rate, they will go after users.
As I said before and others did, if they would make holding cryptocurrencies a felony with mandatory 25 years, would you still use it?
As I said before and others did, if they would make holding cryptocurrencies a felony with mandatory 25 years, would you still use it?
That makes sense, however, there is an essential factor you seem to be missing, a single government can only enforce rules upon its citizens, if the U.S bans crypto altogether, the Russians, Chinese, Iranians and perhaps some European countries would want to buy it more than anything, banning crypto is a risky move to any government if done individually because jumping out of the train does not make it stop, it could simply keep moving and you will be left behind, you need to actually STOP the train, and that would be by "destroying" bitcoin and not just ban it.
And one for you too...
You're underestimating the power of the US and its influence, and this comes from an EU citizen, not some 2nd amendment freak.
Let's cut China out of the picture because you know that if the US sees BTC as a threat the Chinese would have gone with the ban already.
Who is left, Russia and Iran, with an economy the size of texas? North Korea? And even those won't encourage usage, all of them are far more control orientated to allow the spread of cryptocurrencies, they won't take a bit of the poison apple just to piss off the US.
As for Europe, we're still too heavily interlinked with the US, even if some might try to counter this some will ally with the Us view.
And since we're at 51% scenario, imagine how this "ban" or whatever it is called would affect the chain security...
We would be lucky if we would drop only to 1k in the first phase.
With that said, a 51% attack by government/s is doable and we as a community should be prepared for such attacks rather than completely ignoring them, just my thought!.
How can you be prepared for this?
