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Bitcoin doesn’t produce trust. It just produces a verified log.
by zepto 6y ago
Bitcoin doesn’t produce trust. It just produces a verified log.
- chii 6y agowhich people trust to be unmodifiable and thus, dependable. That's what it means to trust it. I have blind faith in the banking system (and blind faith that the gov't regulation keeps them honest), but i can trust the blockchain.
- zepto 6y agoThat’s a category error. The blockchain is a document. The banking system is people. Do you trust people to always give you $60,000 in exchange for a Bitcoin? Do you trust regulators not to tax Bitcoin or put onerous ‘anti-laundering’ conditions on its use?