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> but I am expected to trust a bunch of people who claim to have developed a currency which requires no trust It does require trust just as you require trust f
by profalseidol 9y ago
> but I am expected to trust a bunch of people who claim to have developed a currency which requires no trust
It does require trust just as you require trust from the seeders/peers of a BitTorrent shared file. If these seeders/peers agree that they should modify the said file, you either agree with them or not. If latter, then you end up with a two versions.
- beefield 9y agoI don't recall "trustless" being one of bittorrent's main selling points? Further, to accept crypto as payment very much requires trust (or faith or belief or whatever you want to call it) that you later find some third party that is willing to accept your coins as payment, preferably with roughly the same value that you assigned to it in the first place. Awfully lot of trust flying around in a trustless system in my opinion.
- profalseidol 8y agoYou'll have to understand that the trust in 'trustless system' is in the technical sense. Think of traditional RDBMS versus blockchain for sharing data between two companies. The former needs trust because it is mutable and controlled by an admin. The latter is more designed to be 'trustless'. I hope your technical ability helps me here in conveying my point to you.