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In addition to math and physics, you also trust the durability of infrastructure, the correctness of the software, the moral compass and cohesion of the develop
by shrimpx 9y ago
In addition to math and physics, you also trust the durability of infrastructure, the correctness of the software, the moral compass and cohesion of the developers, that there will be no 51%+ mining coalitions, that if there are they'll be benevolent, and probably believe in relative global peace.
You also trust totally mundane things like internet resilience against phishing attacks, web browsers and other basic tools, the https standard, dns and certificate authorities, etc. etc.
- shrimpx 9y agoAnd of course you trust your own skills keeping your devices, passwords, keys, totally secured from outside access, and not making the zillion tiny userland mistakes that get your Bitcoin lost or stolen.
- Tomte 9y agoAnd this trust in the developers and the system has already been broken (for benevolent reasons, but still): https://github.com/bitcoin/bips/blob/master/bip-0050.mediawiki https://github.com/bitcoin/bips/blob/master/bip-0050.mediawi... Please note "The right people were online and available in IRC or could be contacted directly."