Author: Dave Scotese 2015-09-20 01:26:48
Published on: 2015-09-20T01:26:48+00:00
In a discussion on the Bitcoin development mailing list, Mike Hearn raised concerns that most governments could easily launch a 51% attack on the network and that any government could end Bitcoin usage in its territory by jailing merchants who advertise acceptance/trading of bitcoins. In response to this, a member of the list stated that while governments do jail people for using pot as money, it doesn't have the same effect as Bitcoin because it enriches suppliers. They also argued that governments taking such actions would be taking a huge risk and that ideas don't die, just people. However, they did acknowledge the validity of the 51% attack point. Additionally, the member noted that government is often allowed to do things that are not acceptable if anyone else does them, and that Bitcoin can help turn this around.
Updated on: 2023-06-10T22:38:27.210987+00:00