David Vorick [ARCHIVE] on Nostr: 📅 Original date posted:2017-01-29 📝 Original message:On Jan 29, 2017 2:28 PM, ...

📅 Original date posted:2017-01-29
📝 Original message:On Jan 29, 2017 2:28 PM, "Tom Harding via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:

If that's true, why haven't we already seen AML/KYC required of mining
pools? That would be comparatively trivial.



Some regulators are already looking into it. Even at this point you'd
either need multinational cooperation or you'd need China to decide that
51% attacking a budding technology is a good thing to do, something that
would be sure to increase tensions across the world.

But there are two bigger reasons. The first is that regulators are used to
doing regulation at exchange points, regulating mining is new and
unfamiliar and requires a decent understanding of blockchains. And the
second is that Bitcoin is tiny potatoes at this point. To the best of my
knowledge, organized crime outside of DNMs doesn't use Bitcoin. There's
minimal reason to target it while it's so small.

Regulated mining I believe is going to be a genuine risk as Bitcoin grows.
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