Do you even Bitcoin? One of the main features of Bitcoin is that it can't be manipulated by a central authority like a bank or government (ie: they can't steal from the people by printing money).
No but I lift, .... mostly functions, sometimes they have multiple variables ;-)
> One of the main features of Bitcoin is that it can't be manipulated by a central authority
Q: What can a central authority with power to imprison and/or garnish your wage manipulate? A: anything it damn wants.
Yes the Fed Gov. can't print more bitcoin it sure can come after you with a rubber hose expecting to get some sales, or money exchange tax some rather-made-up-new-law-tax. A few high profile case about bitcoin used for terrorism, drug, illegal porn, money laundering and these new laws won't be hard to make.
By themselves, laws don't prevent actions (see copyright infringement), you need enforcement, and if a very large fraction of the population starts using Bitcoins, it can be very hard to stop, at least without taking some very drastic measures.
My guess is that the US government would just get enough computing power to control the network and prevent it from working well.
The latter seems very likely if btc every became really popular. It would probably send the United States into a radical depression and destroy its economy, but by then the ~500 Americans that own the world would have flown the coop anyway, and all that USD they had would still be worth something.
No but I lift, .... mostly functions, sometimes they have multiple variables ;-)
> One of the main features of Bitcoin is that it can't be manipulated by a central authority
Q: What can a central authority with power to imprison and/or garnish your wage manipulate? A: anything it damn wants.
Yes the Fed Gov. can't print more bitcoin it sure can come after you with a rubber hose expecting to get some sales, or money exchange tax some rather-made-up-new-law-tax. A few high profile case about bitcoin used for terrorism, drug, illegal porn, money laundering and these new laws won't be hard to make.