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by bufferoverflow
2971 days ago
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> which meant that it would have been straightforward for China to (globally!) freeze a Bitcoin address No. It's not like all the Chinese miners are controlled by the government. It's not some monolithic agency. And then, there are many other coins. |
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This isn't a China-specific argument: I'd expect that any functioning government could the same. The only difference is that governments without a working national firewall would probably be less willing to spend resources on chasing down miners who connect to Bitcoin peers via VPNs in other countries. It just happens to be true in this case that the Chinese government has a national firewall that they use to shut down VPNs, the Chinese government's international interests are often opposed to the US Fed's, and 70% of Bitcoin mining happened in China's jurisdiction last year.