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A comment on Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners. Parent comment

Re:Bitcoin network power slumps as Kazakhstan crackdown hits... by sudosysgen on Thursday January 06, 2022 @08:37PM (#29833561)
Bitcoin is not the sovereign currency of any country, so there is no issues as far as international law.

Sure, lobbying is an issue, but if the government is lobbied to support crypto, they support crypto. I'm starting from the assumption that they see it as an existential threat and want to eradicate it.

When I say "governments", I mean the likes if China, the US, and some key states of the EU. Really not that many.

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Re:Bitcoin network power slumps as Kazakhstan crackdown hits... by djbebs on Friday January 07, 2022 @02:46AM (#29836233)
Did you miss the part where El Salvador made it one of its official currencies?
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Re:Bitcoin network power slumps as Kazakhstan crackdown hits... by sudosysgen on Friday January 07, 2022 @03:45AM (#29836654)
Official currency != Sovereign currency.

El Salvador also had the US dollar as an official currency, does that mean they get to sue you if you destroy US dollars or devalue the currency (as the US can do)? Of course not, because while it's a currency the Salvadoran government agrees to accept, it's not actually their sovereign currency.

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Re:Bitcoin network power slumps as Kazakhstan crackdown hits... by CaptainZapp on Friday January 07, 2022 @09:30AM (#29839481)
It doesn't really look like a roaring success as of now.
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