timtyler comments on [LINK] Two articles on Bitcoin - Less Wrong

4 Post author: David_Gerard 16 May 2011 02:36PM

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Comment author: timtyler 01 June 2011 04:59:06PM *  0 points [-]

It's a point worth making that Bitcoin doesn't have a single central hub that can be killed easily.

Couldn't the government simply declare trading in Bitcoins illegal - if it so chose? If someone publicly says they accept Bitcoins, the government could do a sting-operation on them, to verify this - and then punish them. Users would pretty quickly be driven underground.