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RE: Bitcoin User Arrested Over p2p Transaction! - Is No One Safe?

in #bitlicense7 years ago (edited)
Cryptos will continue to be hijacked and ultimately controlled by the very entities who hastened their emergence in the first place from behind the veil.

I think whoever wrote that should have a look at Bitcoin first before making a statement. The fact of the matter is that crypto currencies, such as Bitcoin, can be neither "hijacked" nor controlled by governments. And I'd be intrigued to know where this dumb theory comes from, that says that it was a government that "invented" Bitcoin. Why the hell would governments / banks want to invent a currency that they can't create out of thin air, that is not tied to an identity, and that they can't control? That makes as much sense to me as if someone told that General Motors and Exxon Mobile colluded in order to come up with a car that runs on rainwater in order to make people more dependent on gas engines and crude oil. In other words: If those people are so stupid, how come they are so wealthy?

Well, and even if they invented it - it can't be 'uninvented'. And wasn't it Kodak who invented the digital camera and then went bankrupt over their own invention?

The Innovators, Rogues, and Strategists Rebooting Banking

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Couple days ago, I heard something I am not sure, whether to belive.
Could you please help me.
In BTC, all things are decided by "majority of miners".
So... if majority of miners decide to "rise number of BTC", then (in theory) 21 mio is NOT "final max number of BTC" ????
Your thoughts ?

You're right:
Mathematics puts some limits that "majority of miners" cannot decide.

@gardening-at-50

That's a negative on that question. The miners cannot decide anything by themselves, even if they all worked together. In Bitcoin we have five constituents, of which none has full control over the system: Developers, Miners, Nodes & Wallets, Users and Retailers. They all have their own interests which partially even contradict the interests of others. That's why it is called a 'consensus network'.

Even nation states wouldn't be able to take over or take down Bitcoin anymore, because the network has grown too strong by now. Here's a link to a video I transcribed, where Andreas Antonopoulos explains why Bitcoin is so resilient against attackers:

Can Governments take over BitCoin?

Divider Blue Steemit

XBT Freelancer - Work in a variety of Industries and get paid in BitCoin

There are some who believe that the move toward th elightening network witrh btc is the "beginning of the end" see here: https://steemit.com/bitcoin/@son-of-satire/what-is-bitcoin-s-lightning-network-and-how-will-it-be-used-to-fuck-us

I'd like to add that I don't think there is any necessary connection between wealth and intelligence... there are some pretty dumb rich people, I'm sure... and a lot more "smart," poor ones. Then again, how one defines "intelligence" can be quite subjective... In some ways it seems plausible that gov did create btc... I'd suggest watching vdeo I posted above about lightning network. an makes argument that its implemenation will "fuck us," to use his terminology. I can't explain details atm, just watch vid :)