Showing posts from July, 2021

"How to Kill Bitcoin: A Guide for Governments"

  Here is the first draft of a blog post I wrote back in 2013. The final article was lost during a data lossage event. Rather than try to update this draft, I am pasting it here, as-is. Remember, this was written in 2013. Enjoy! How to Kill Bitcoin What is Bitcoin? Bitcoin is an Internet-based currency that people can buy with your local currency right now. Once a person has acquired Bitcoins, that money can be sent virtually anywhere on the Internet, within 10 minutes, with no transaction fees, and no names. What threats does Bitcoin pose to governments? Tax Evasion Money Laundering Terrorism Vice Currency Destabilization State Destabilization How can Bitcoin be killed? The short answer is that Bitcoin cannot be killed with 100% effectiveness. However, we can force Bitcoin underground, out of the reach of the masses, and slow down Bitcoin adoption considerably. We must move quickly and contain Bitcoin while it is still small, or we may lose control of the government altogether. Unity: