And even if an existing peer-to-peer network running a blockchain can remain out of reach of direct government control, it’s unclear that it can avoid government subversion. One can imagine the NSA, with its huge computational resources http://cristianzjka604.bravesites.com/entries/general/what-is-cryptocurrency-and-should-i-invest-in-it- for doing hashing, setting up cubicle after cubicle as nodes on the Bitcoin network and essentially taking over the network by performing most of its computations. Crypto acts like cash, which keeps transactions private and thereby allows users to hide transactions from the government. This makes it easy to use crypto for illegal purposes, including tax evasion. True, some local governments in the US are providing openings for crypto, and some countries, such as El Salvador, are likewise providing openings.
