full image - Repost: Discussion: Could governments destroy bitcoin for around 16 billion dollars? (from Reddit.com, Discussion: Could governments destroy bitcoin for around 16 billion dollars?)
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There are less than 3000 transactions in each block. If the government wanted to end bitcoin, they could create 3000 transactions per block each with a 100 dollar fee.If you were to do this for a year, everyone would simply stop using bitcoin as transactions fees would be entirely out of their reach. That's 100 * 3000 * 6 * 24 * 365 = 15,768,000,000. The actual number of transactions is even lower.So for 16 billion they could end transactions. Heck, since it's a worldwide government job, if they spent 160 billion, they could make the transactions 1000 dollars each.Do you think miners would be charitable and not take these large transactions fees and let ordinary people transact?
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