Hi, David, thank you for your input.

I think you don't appreciate how decentralized the Bitcoin network is. You are assuming miners are mostly in one country and just by the government telling them what to do they will have to comply. That is not the case at all.

If this state-level attack occurs miners will just pack up and go to a better jurisdiction. In the meantime, the hash rate and the difficulty adjust will drop making it easier for small miners from other countries to join the network and keep it alive.

The system has been designed to repel the kind of attacks you mention hence its truly decentralized nature. The US government could shut down some altcoins or stable coins but not Bitcoin. They could also shut down Google or Amazon but this is also very unlikely to happen.

By attempting something like that, they'll be giving up all the future wealth created by Bitcoin, and countries like Russia are waiting to pick up the slack.

You are giving too much credit to the Washington bureaucrats, they are powerful but they are also under pressure to maintain the economy alive and not kill the golden geese. But certainly, there is nothing they can do against a decentralized system that keeps growing exponentially.

You can't beat an invisible enemy, not even the US army can.

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Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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Alberto Guerrero

Alberto Guerrero

Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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