>The idea to get rid of having to trust centralized organizations might sound tempting, but it doesn’t work: Blockchains don’t get rid of “trust”, they just cha

>The idea to get rid of having to trust centralized organizations might sound tempting, but it doesn’t work: Blockchains don’t get rid of “trust”, they just change, who has to be trusted. I see this argument against crypto a lot. It's valid, but it's also missing a very very important point. With crypto, practically, you still have to trust external entities. However, you can choose who you trust. You can choose to trust entities far beyond the reach of your corrupt local government, or you can choose which financial institutions you entrust. You can distribute your trust among multiple entities. You're in control. This isn't the case with the traditional financial system where you're pretty much forced into trusting a specific pre-selected set of options that are all substantially identical.