Quote from: Artemis3 on February 17, 2020, 05:08:57 PM

Quote from: qwk on February 17, 2020, 04:13:03 PM

Quote from: A.N.D. on February 16, 2020, 08:04:28 PM

Quote from: hv_ on January 30, 2020, 06:38:00 PM

So it is quite ok and safe to have big mining companies been ordinary compliant and regulated corporations imho

This statement contradicts the basic idea of bitcoin. Bitcoin is independent of the authorities. If the authorities subjugate him, he will be destroyed.

As much as I like the idea of a completely anarchist Bitcoin, I'm down-to-earth enough to know that won't happen.
The Bitcoin network itself is not prone to regulation, by design, so much is true.
The Participants in the network, namely the miners, exchanges, maybe even ordinary users, definitely are.

But the end of n participants won't be the end of Bitcoin as long as n < all.

This "regulation" is external to Bitcoin. With or without permission, Bitcoin works. You can legislate and regulate all you want, Bitcoin is in no obligation to follow. You have to voluntarily comply, but you could also not comply and Bitcoin would work the same.

You think no one in Ecuador or Bolivia is using Bitcoin? Think again. But they have to be more careful, just in case and not expose themselves. Yes it sucks a bit in adoption, especially in the physical world (shops, street merchants, ATMs, etc).

If you do not willingly surrender your data, so they can associate your identity with your wallet, they cannot tell. Specially if you use things like Tor for your transactions, and remember to not re-use an address.

Bitcoin now depends on several associations of miners. Authorities can easily subjugate them. Thus, the authorities will gain control over bitcoin. The P-POW algorithm proposed by me limits the influence of miners on cryptocurrency.