News for hackers. Stuff that matters.
Re:Solana Labs completes a $314M private token sale led by A... by baby on Sunday June 13, 2021 @08:45PM (#27498089)
It’s the same for Bitcoin btw. The government can just forbid any VASP to accept bitcoin and to authorize on/off ramp and trades involving bitcoin. ISPs could also block miners and bitcoin websites. The coin is censorship resistant… to a certain extent. Maybe there’ll always be someone running it, and there’ll be a black market for on/off ramp, but it will severely cripple the adoption.
Re:Solana Labs completes a $314M private token sale led by A... by tudorw on Monday June 14, 2021 @04:32AM (#27500513)
'it will severely cripple the adoption', I'm not sure it's so straightforward as that, if large numbers of governments take an authoritarian stance on independent global currencies is there not a possibility that, while impacting network efficiency, it might underpin a new found desire and need for said independent global currency and instead drive adoption of currencies that have this resilience?
Re:Solana Labs completes a $314M private token sale led by A... by baby on Monday June 14, 2021 @05:15PM (#27508396)
I think it’s worth than that for bitcoin as bitcoin relies on a connected network for security. The risk of forks is too high without that. For other cryptocurrencies based on BFT at least the network would come to a stop and safety wouldn’t be violated (no double spending).
Re:Solana Labs completes a $314M private token sale led by A... by SilasX on Sunday June 13, 2021 @09:11PM (#27498245)
True, but that failure mode doesn't exploit the network's centralization and is unrelated to how centralized it is.
Re:Solana Labs completes a $314M private token sale led by A... by ivalm on Monday June 14, 2021 @03:00AM (#27500051)
So it means centralization might not be too relevant to the government a ability to ban.