A Way Government Can Control Bitcoin


No, not the currency itself, but the mining of it. China’s central bank says it can tell local governments to regulate the amount of power that a Bitcoin miner can use, thus controlling the amount of Bitcoin being mined.

Do you think this will get widespread adoption?


Since China’s electricity generators and suppliers are state owned, no.


I was thinking more of non-western countries. Of course, China is different in that they are wanting to become the economic powerhouse in the world.


Israel wants to ban companies from the Tel-Aviv listing that trade in cryptocurrency.


So this is what Andreas thinks it will happen with electricity limits on mining (skip to 2:47) …


Only the other day I was reading that there’s an upper limit built into the design of Bitcoin, with a total maximum of 21,000,000 Bitcoins. Ever.
Any restrictions on the mining of them will surely be redundant once they’re all in circulation.

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