Hi David, thanks for your input.

You seem to be assuming a few facts that are not accurate.

First, not all mining is done in the US, far from it.

Second, miners will migrate to any jurisdiction that is more friendly while in the meantime the rest of the network will pick up the slack and the mining difficulty will be adjusted accordingly. That’s what happened with the China exodus. No big deal.

Third, the FBI couldn’t even unlock an iPhone. Do you think they’d be able to pull this off? No way.

Fourth, what you are proposing would need global cooperation at a scale we’ve never seen before. China, Russia, the US, and every single country in the world including El Salvador, Afghanistan, and North Korea would have to work together to have a small chance to stop the network. Do you think this is realistic?

Fith, you are assuming Bitcoin goes totally against the status quo but that is not necessarily the case. Banks, nations, and big corporations are already buying bitcoin. The US is one of the biggest holders in the world. Why would they want to stop that? To save fiat? They will just find ways to work with bitcoin and it could actually be a good thing for governments to reduce debt and get some control over their finances.

Your thesis would work in a black and white world where governments have unlimited power, are very efficient, and are extremely coordinated. That’s not the real world at all.

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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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