3 ms·
> because people really don't trust each other Not necessary people in general. But people interested in crypto certainly don't trust each other.
by timeon 5y ago
> because people really don't trust each other
Not necessary people in general. But people interested in crypto certainly don't trust each other.
- politician 5y agoCloser. The user-agents running Bitcoin (nodes) are performing an algorithm that was purposely designed such that all such user-agents are mutually distrusting.
- hgfshfg123 5y agoMy second point also includes that people are willing to spend all of this energy for mining because of the Bitcoin value. I'm suggesting that people are in because they distrust the current currency system: The more they distrust other currency, the more Bitcoin they buy, the higher the energy costs as more participate, the more irrefutable the ledger, the more energy is spent... So the more demand there is for irrefutability, the higher the energy costs.
- cuteboy19 5y agoMost people buy Bitcoin on exchanges. That negates trustlessness
- scottiebarnes 5y agoA crypto exchange is not part of a blockchain's protocol. Its a distribution layer built on top of it.
- cuteboy19 5y agoThat's fine, I'm just telling you that these people clearly are not interested in the properties of the blockchain itself
- Avshalom 5y agoIf the constant scams in cryptocurrency space show anything it's that they trust each other way too much. "Trust less" is a sort of aesthetic pose more than anything