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Noob question about Bitcoin mining: country A wants to buy some stuff from country B. 100% of the miners and hashrate are in country C and known to government. Gov of country C tells the miners don’t process any transactions from country A. Or straight to jail. Would a solution to this be for A to get some hashrate and miners and send the transactions to them to process? And how would this work in practice? I recall hearing Bob Burnett saying that each country should build up some hashrate.

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Thekid.999 6mo ago

Country D will process it.

HoylesPattern 6mo ago

Good question. As far as I know the Government C miner would need to craft a policy related to their mining to restrict transactions from Government A; however, they would need a transaction identification method so what Government C says to do may be harder to implement. Also, although most mining is done by some majors there remains other smaller miners that would be outside the reach of Government C. Noting despite the financial sanctions on Russia at present, some sources indicate that they have settled some trades with Bitcoin.

Should a country build its own hash rate? I am for small government and would personally prefer they stayed out of #bitcoin but I do believe they should encourage individuals to mine Bitcoin and maybe businesses (or cooperatives of individuals - as they do with farming).

satoshi jr 6mo ago

This is the premise of hash wars