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> Bitcoin does not require trust in anything except the math underlying the system. False. It requires trust in the liquidity of bitcoin. If you can't convert
by sergiosgc 12y ago
> Bitcoin does not require trust in anything except the math underlying the system.
False. It requires trust in the liquidity of bitcoin. If you can't convert bitcoin to local currency, it has no value. Bitcoin's fragility is in its ability to act as a holder of value, as repeatedly show by speculative price swinging (sometimes without apparent cause).
Gold, for all its faults, has a huge track record as a value store.