To take over Bitcoin it would take not only devs but also miners and major exchanges to cooperate. No single government on this planet has this power.
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Weslee@lemmy.world 3 months agoThat’s pretty easy tbh, most of the core bitcoin devs all work for a single company that can absolutely be bought out, and even have gone on record on how much they dislike bitcoin.
It was the main reason I got out, I bought into it because I was excited by the tech behind it, but no single company should have that much control over the direction it goes in.
Now you could argue that if they did so the chain would just split and the rest of the world would just stay off the USA owned chain, but imo they have already done so much against the interest of bitcoin and everyone has just gone along with it so far (minus the bch split) so what do I know.
gressen@lemm.ee 3 months ago
qprimed@lemmy.ml 3 months ago
as another comment indicated, bitcoin (and other hard crypto chains) are resistant, not immune. please don’t make that part of your armour.
Weslee@lemmy.world 3 months ago
For response; see last paragraph in my comment
atrielienz@lemmy.world 3 months ago
Bitcoin and other crypto currency like it rely on there being enough to circulate. China has several times over the amount of mining potential the US does. It’s seems prohibitive to investment to make it a US only mined currency.
shortwavesurfer@lemmy.zip 3 months ago
May I introduce you to the Monero community, where it seems like you would very seriously belong.
qprimed@lemmy.ml 3 months ago
no knock on monero but, like every chain out there, it has ts own problems. I wish it were the perfect panacea, but right now, nothing is.
shortwavesurfer@lemmy.zip 3 months ago
Fair enough, I am curious. What do you see as its problems? I may or may not be able to help.
qprimed@lemmy.ml 3 months ago
- excellent algo - but not sure it properly weights botnets over CPU/GPU specialization.
- heavy chain - monero utxos are some of the biggest out there and therefore probably bad for protection against node centralization (other chains are heavy, but compared to ecnomic activity, monero is lead)
- lack of verifiable inflation rate - by its nature, monero make it almost impossible to do this.
those are the ones off the top of my head. would love to have any mistakes.corrected.
sugar_in_your_tea@sh.itjust.works 3 months ago
The whole point of cryptocurrency is that it’s decentralized. Trying to geographically limit it goes counter to the entire point. If the core devs tried to restrict it to a location like the US, it would be split pretty much immediately.
Not happening.