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A comment on China declares cryptocurrency deals ‘illegal’. Parent comment

Re:China declares cryptocurrency deals ‘illegal’ by salawat on Friday September 24, 2021 @01:31PM (#28645448)
That's not a vote on monetary policy. A vote on monetary policy is forking the algorithm and changing the nature of the cap.

Bitcoin and cryptocurrency es is a bunch of tech bros assuming they can run or set up a better monetary system than everyone else...

...without realizing that transaction media are an extremely powerful political and diplomatic tool, integral to maintaining national security, and will get stomped relatively quickly given enough time for governments to wrap their head around it.

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Re:China declares cryptocurrency deals ‘illegal’ by UncleMeat on Friday September 24, 2021 @02:59PM (#28646487)
You can fork the algorithm if you have a sustained >50% hash rate. I suspect that with BTC this will never happen in a meaningful way since something as basic as block sizes caused an insurmountable rift in the community.
[ Parent | on HN ]