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Who do you think the people trust when they buy bitcoin? Is it the trust in your basement miner and your smartphone wallet, or is it perhaps the control through
by febeling 6y ago
Who do you think the people trust when they buy bitcoin? Is it the trust in your basement miner and your smartphone wallet, or is it perhaps the control through bitcoin core code? This trust amounts to 160bn USD per today.
- bildung 6y agoThey trust the exchanges, which is where most people buy their coins - and they don't actually own coins, they own entries in the database of the exchange. Actual OTC purchases of bitcoin are negligible in comparison and don't play a significant role in price discovery.