Quote from: robkohr on December 19, 2011, 07:06:36 PM

Quote from: Rassah on December 19, 2011, 05:32:29 PM

Still have the issue of no one wanting to mine it, leaving all the mining work to the government. Then there's the issue of Bitcoin type networks being global, meaning the government's mining activities could be supplanted or screwed with by foreigners. About the only secure option a small government would have is to either force everyone else in the country to mine, too, or get rid of mining and just run a secure ledger all by themselves, having total control of all coin distribution, and tracking all transactions digitally from a single centralized location (what central banks already do).
I don't think there is a way for any government or private entity to own a private Bitcoin clone, simply because not enough people would ever be willing to mine/secure it.

Why not just reward people for mining the way bitcoin does? This way it is a non-centralized government recognized currency that also pays for govt activities.

Anyone in the world could mine the currency for the govt, and it would be taxed world wide, and then spent in the country by the govt.

So what's stopping an enemy nation from launching a 51% attack? Untraceable cyber-warfare with 100% chance of victory.