Re:Terrorists Turn to Bitcoin for Funding, and They’re Learn...
by keymone on Tuesday August 20, 2019 @12:27AM
(#20743839)
> we shouldn’t advocate a worse solution than what we have today, along every axis
Crypto is actually better than cash on every axis
> limited to 7tx/sec (haha, jokes, ish)
Just shows you’re not very informed on the topic
> Bitcoin hash power is 80% in the control of 3 mining pools in the PRC who could with the stroke of a pen censor everything
Miners don’t control the network so they can’t really censor without consequences. Mining pools are composed of many independent miners, you can’t take over them by taking over pool operator - they will just leave and form another pool.
> Now this is a truly novel argument: make the job of the government harder so you get value for your tax dollars.
Job of government becomes harder/easier due to emergence of new tech not because you or I want it.
Crypto is actually better than cash on every axis
> limited to 7tx/sec (haha, jokes, ish)
Just shows you’re not very informed on the topic
> Bitcoin hash power is 80% in the control of 3 mining pools in the PRC who could with the stroke of a pen censor everything
Miners don’t control the network so they can’t really censor without consequences. Mining pools are composed of many independent miners, you can’t take over them by taking over pool operator - they will just leave and form another pool.
> Now this is a truly novel argument: make the job of the government harder so you get value for your tax dollars.
Job of government becomes harder/easier due to emergence of new tech not because you or I want it.