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I think you have it the other way around. I'm no crypto fan at all, in fact I despise the lunacy and greed in the sector, but I've read about Satoshi to unders
by epolanski 3y ago
I think you have it the other way around.
I'm no crypto fan at all, in fact I despise the lunacy and greed in the sector, but I've read about Satoshi to understand that it was crystal clear from day 1 to him that the cryptography or cryptosystem as you call it was just an implementation detail, in fact he was brilliant at understanding that the critical value of Bitcoin was that it was consensus being the key to the entire dynamic.
And consensus has a crystal clear incentive into holding bad actors out, because if bad actors can take over a network they de facto sink the value of the network and coins themselves.
So even if a government tomorrow could start controlling the network, consensus will simply reject and fork.
Albeit I don't like the crypto industry and such, I can't lie that there are many great economical lessons to learn.