Post
Topic
Board Bitcoin Discussion
Re: Decentrally mined currency has failed and can't possibly be rescued
by
alc
on 30/11/2014, 16:10:46 UTC
I have stopped reading after a while.
I just have one question:
If governments can regulate everything, why is https://thepiratebay.se/ still there?
1/ In many places, it isn't, thanks to government regulation.
2/ "Potentially illegal filesharing via a bittorrent site" is a somewhat smaller issue than "global money transfers".

Quote from: franky1
mining pools are just a small part of bitcoin and no matter what law comes about to attempt to control bitcoin, people can just change the software as mentioned above to flip between IP addresses to lessen the chances of being traced. and also people can use different types of pool software such as p2pool etc which offer different features.
Your solution to most things seems to be "change ip address". This is fantastically short-sighted. You also seem to be conflating or confusing the issues of anonymity and freedom of transaction.

If the rapid centralization of mining hardware that we're seeing continues, and control of mining effectively consolidates into the hands of a few, then it is not much of a stretch of the imagination to think that governments/banks/corporations will seek to compel the victors (the cex.io's of the next decade) to blacklist transactions that they consider fraudulent. Your identity may be secure behind TOR (I wouldn't bet on it, personally) but if your address is blacklisted then you're still screwed, and no amount of TOR exit node hopping is going to change that.

The centralization of pools is a problem until it is solved, apparently p2pool is not the solution, and this sort of hand-waving and saying "it'll be ok, we'll figure this out" strikes me as naive, and fundamentally unwise.