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Cashless Cow [Aug. 2nd, 2013|02:24 pm]
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From:[info]brookings
Date:August 2nd, 2013 - 04:31 pm
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is apparently the answer, but do you really think it won't be controlled or destroyed at some point down the line? It seems to me to be too much of a threat to the Central bank/private bank system to survive.
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From:[info]artis
Date:August 2nd, 2013 - 04:43 pm
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it is decentralized and peer-to-peer by design, i.e., rather difficult to destroy w/o bringing down the entire 'net. they can easily shut down single nodes in the network. however, bitcoin does not depend on single nodes to operate. ergo, it will not be completely destroyed, but they can prevent it from becoming mainstream by going after merchants who accept it as currency, individuals who are known to have used it etc. it is technologically resilient, but for it to succeed it has to gain political legitimacy. it will be to interesting to see how it all goes down...
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From:[info]brookings
Date:August 2nd, 2013 - 04:56 pm
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They will, I think, go after it in some form at some point - imagine: not only outside the current monetary system but also difficult (impossible?) to enforce taxation as far as I understand from what I have read.