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280 sats \ 4 replies \ @iguano 11 Jun 2023 \ on: Unpopular Opinions - A Weekend Discussion bitcoin
I got another one, Bitcoin is not 100% trustless
Agreed. I prefer "trust minimised", although I get how that doesn't roll off the tongue as nicely.
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Why not?
Not saying I disagree, just want to hear your arguments. Also not saying I agree, haha
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Unless you reviewed all the code yourself your are trusting the devs.
You also are trusting the devs that they are maintaining the software without bugs.
You trust the security from the miners that they don’t “ally “ and start excluding transactions based on government requests. Killing one of the main feature of the network (being permissionless).
You also trust the “network effect “ to keep growing and don’t start a downtrend that left your savings on 0.
Those 4 examples are the biggest but I’m pretty sure there are more trust involved.
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Well a lot of systems dont work without trust. As in, they wont let you see the codebase even if you wanted. With bitcoin, you at least theoretically could check. But I agree you make a good point, theres definitely some trust involved.
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