Post
Topic
Board Bitcoin Discussion
Re: Decentrally mined currency has failed and can't possibly be rescued
by
cbeast
on 30/11/2014, 01:16:19 UTC
Bitcoin as a virus can be easily controlled (no need to kill it for as long as government can regulate, tax, and confiscate it) as I explained in the prior post about regulating the mining pools. The people can't stand up and fight if their weapon is fundamentally impotent, regardless of how many people adopt it.

For those who say the government can't confiscate your private keys, my prior post says that it is irrelevant. They can block you from transacting, so then your private key is useless.

History is full of examples where common citizens ignored ridiculous laws until they went away. Alcohol prohibition in the 1920s didn't stop people from drinking. Doctors prescribed alcohol as medication. Private drinking clubs proliferated. Police were easily bribed because they didn't believe in that law. Slavery laws were often disregarded in favor of human decency. Traffic laws are routinely ignored.

The thing about Bitcoin is that there is no moral reason to ban it. In fact, it's just the opposite. Cash is used for violent crimes because it is untraceable and anonymous. Since paper money technology isn't banned, there is no worry that Bitcoin will be outlawed.