bitcoin

Bitcoiners don't really have a good understanding of _____

birdeye21

I think many bitcoiners could expand / refine their understanding of trust. Even the mantra of "trusted third parties are security holes" has a lot of nuance to it if you look at the [context](https://nakamotoinstitute.org/trusted-third-parties/):

> A corollary of “trusted third parties are security holes” is “all security protocols have security holes”, since no protocol is fully free of such assumptions. The key steps in estimating TTP costs and risk are to (1) examine one’s assumptions thoroughly to uncover all TTP assumptions and characterize specifically what each TTP is and is not expected to do, (2) observe that each such specific hole and task has an associated cost and risk.

I attempted [a series of essays on trust](https://trustisascalingsolution.com/) that didn't exactly take the bitcoin world by storm but I think it's worth the time to meditate on the subtleties (such as, well-placed trust is a beautiful thing, so obviously "trust" is not something to be avoided in all cases), even if my writeup didn't illuminate them very well.