How Government Regulation of Bitcoin Results in Complete Control
Clearing up Misperceptions
Last edited April, 2023
Bitcoin has become entwined into the global financial system. Therefore, an outright Ban on using Bitcoin is no longer a desirable option. Instead, the U.S. Government and its allies will regulate Bitcoin so that governments can control all transactions completely and globally. The U.S. Government has made no secret that it intends to regulate Bitcoin. Yet, knowledgeable advocates of Bitcoin have a difficult time grasping how the U.S. and its allies can completely control Bitcoin with regulation. This article addresses some of the effects that government regulation of Bitcoin MINING can have on the Bitcoin network.
The U.S. will coordinate the coming regulatory policy with its Western allies. The known method to control all Bitcoin transactions globally is to direct the majority of the computational power of the several million Application Specific Integrated Circuit (ASIC) computers the Bitcoin network uses to confirm transactions.
Manipulating a majority of the Bitcoin hash rate is known as a 51% attack. There are multiple ways that a government can gain control of the majority of Bitcoin’s computational power -or its hash rate. I’m convinced the U.S. and its allies will use regulation. A…
