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Are you a qualified assayer? You trust the other person is giving you gold, or you trust the individual who tests it. You trust the system that provides you wit
by cmdkeen 13y ago
Are you a qualified assayer? You trust the other person is giving you gold, or you trust the individual who tests it.
You trust the system that provides you with an understanding of the relative value of the gold you're holding so that you aren't massively overpaying.
There's a reason Jesus through the money changers out of the temple - they were abusing that 3rd party trust.
- tlrobinson 13y agoOk, this is one area where Bitcoin is demonstrably better than pretty much any other form of money: it's cryptographically impossible to counterfeit.