Matt Hamilton
Join me on an interview of the average Bitcoiner!
So Bitcoiner, you believe that Government money is a scam?
> Yes, complete scam. All they do is print.
And you like Bitcoin because it isn't controlled by central bankers?
> Yes. The network is controlled by the miners.
So what happens when the Government bankers that you're seemingly slighting have no more use for Bitcoin for their own illicit purposes and outlaw the exchanges?
> ...
What happens when they shut down the Internet?
> ...
Sick Sun
IceCubeSoup
@eriner Yes, they could choke off the nodes by observing the traffic.
The only countermeasure would be for something like IPSec to be implemented globally, and for all communication channels to be stuffed to capacity to make traffic analysis difficult.
Matt Hamilton
@IceCubeSoup yeah, which... isn't happening.
My point is that Bitcoin is ultimately at the mercy of the same Evil shits that make the Dollar. And it *REQUIRES* an uncensored Internet. No way around it.
It's just so silly. IMO, likely a Government fabricated trap; a controlled illusion that they could create a viable parallel economy free of Government. Bleed the skeptics of their Dollars, drive them into a box, and eventually reveal who's really in charge and rug pull.
Bitcoiners will be all:
Matt Hamilton
> lol, who cares? End of everything.
Parts of the Internet can be selectively offlined without shutting down the whole Internet. I implied a whole shutdown, but you are correct that ending the Circuses is probably not advisable, so in practice it's more likely to be a selective shutdown. They'll make laws and go after the ISPs.
> What happens when they shut down the ACH system? Same question
ACH predated the Internet, but again, see above about a selective shutting down.
IceCubeSoup
> outlaw the exchanges?
an unsolved problem. bitcoin will still exist and function fine, but without an infrastructure which allows for daily use of bitcoin for daily needs... well, it's utility will drop through the floor, and the price will too.
> What happens when they shut down the Internet?
lol, who cares? End of everything. What happens when they shut down the ACH system? Same question.
Sick Sun
Sick Sun
Matt Hamilton
> it will survive as long as the USA doesn't have total hegemony over the planet
My view is admittedly US centric, however the logic can be applied to any Government. I guarantee when the rug-pull does happen, the US won't be the only Government doing it.
Sick Sun
Matt Hamilton
@sun @IceCubeSoup I don't disagree at all. Bitcoin itself will probably survive until some Government reveals that they broke all conventional prime factoring based cryptography. But it won't be usable as a currency for those that live in the "dark zone".
Matt Hamilton
@sun @IceCubeSoup plus, who can say with certainty that "Satoshi Nakamoto" isn't a pseudonym of Government Research Department #2293?
Sick Sun
PunishedD
Sick Sun
Sick Sun
IceCubeSoup
The whole viewpoint that the dollar value of bitcoin is important completely undermines its whole premise.
Sick Sun
dirb
Matt Hamilton
@adam I don't contend, short of revealing technology that reverses prime factorization (hence breaking most encryption we use today), that the Government will shutdown every machine processing transactions.
I'm saying that if the US Government dreams up some laws that ban Bitcoin, they're in essence putting a .45 to the foreheads of ISPs, exchanges, and everyone you're transacting with.
Will Bitcoin be "dead"? Technically? No. Practically? Yes.
Adam Clark Curry
@eriner
I doubt that is possible anymore.
They can degrade the hash rate at best.
Matt Hamilton
@adam I clarified elsewhere in the thread, but I doubt they'll shut down the Circuses in its entirety: they'll just shut down Bitcoin.
Adam Clark Curry
@eriner
If "they", shut down the internet (doubtful), Bitcoin will be the least of our problems.
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