Author: Eric Voskuil 2015-09-19 06:56:55
Published on: 2015-09-19T06:56:55+00:00
In a bitcoin-dev post, NxtChg and others discuss the potential threat of governments to Bitcoin. The article suggests that while some may find this idea crazy, assuming governments are a legal and regulated service provided by a highly trusted mining community is reasonable. However, there is a grey area in what is considered a legal/regulated service, and those who assume it may be intentionally spreading FUD or have a defect in thinking. The state is seen as the primary threat in the Bitcoin model, with regulation being its attack surface. Mike Hearn's threat model argues that we should not assume governments are a threat; however, this is considered naive, and becoming too popular and successful makes it susceptible to regulatory capture. The alternative suggested is to become too small to hunt, in which case a specialized alt-coin would be better suited for that purpose.
Updated on: 2023-06-10T22:36:09.988246+00:00