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21 sats \ 2 replies \ @SwapMarket 26 Nov \ on: Crypto confuses me bitcoin
If fact the division line is very simple. You either TRUST someone to guarantee value of your money: central banks, Vitalik, other skammers, or you trust NO ONE but the open source code and the game theory that makes it work. Once you realise that you can rely on no one but yourself to safeguard your wealth, you become a maxi.
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0 sats \ 1 reply \ @ville OP 26 Nov
But this view, too, is somewhat myopic considering that not all can safeguard their wealth this way like your parents. And even Bitcoin itself, the miners specifically, need to be trusted to the extent they remain resistant to censorship.
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8 sats \ 0 replies \ @SwapMarket 26 Nov
Not all. Survival of the fittest. I am reasonably old but can self host. Censorship of what? If a miner is not happy with the transaction templates his pool coordinator creates, he can join another pool or mine solo. Transaction censoring pools will get less fees and nodes will learn to route transactions elsewhere. No trust needed, game theory will play out.
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