2 ms·

Control requires knowledge. I suspect fewer than 1% of people who have BTC understand how it operates.

• buboard 8y ago
  you can say that about money supply or credit cards or paypal etc. it doesn't matter. what matters is that other people trust it too.
  • redial 8y ago
    Sure, but that is not controlling your own money.
    • buboard 8y ago
      i think you really are. you can't pay another ebay (e.g.) user today, without ebay somehow being liable about the transaction. crypto keeps people bound to their wallets, which frees up a ton of possibilities.
• SlowRobotAhead 8y ago
  I doubt 1% of people on HN truly understand it top to bottom. It's a pretty complex topic. Math, Programming, Economics, practical application of Cryptography and applied Financial processes and it would be tough for anyone to really grasp the whole thing. After a talk I gave I had a highschool kid mention "you should try a blockchain" in response to a security issue I had discussed... I nodded and smiled. When a family friend tried to get us to invest in his shared mining operation he explained a similarly vague description of the mathy database - I didn't smile as much.