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I agree, that's why I said "a few big cuatodians"
The notion of custodian is not broken. but if too centralized then it is broken.
family or local business level seems decentralized enough but maybe that"s not realistic.
is there a middle ground?
Not so different from saylor.
None of the institutional names wants to kick the honeycomb that makes their own grift possible.
A gentle tap every once in a while is fine.
Morning darth!
How they hanging.
It has to do with trust. Bitcoin is trust minimized bit you can never eliminate trust completely. There's always custodians. Even with self custody, there's always hardware and with it a supply chain that could be compromised.
People trust gold more than bitcoin. Maybe they shouldn't but they do. I just thought I would have a look at where that misplaced trust breaks down.
And actually I think I realized somethig interesting.
it struck me that buyers of gold bars have the same dilema as buyers of illegal drugs. they really need to trust the seller.
grafting a smartcard signed by the bar originator to the bar (or the meth chemist to the batch of meth) doesn't solve it, you could melt down the attachment point and reattach the smartcard to a fake bar (or the fake drugs).
so you need trust.
iiuc drug buyers solved this with pgp identities and a review system on the darknets which I surmise is more sybil resistant than ebay's review syatem. (I would like to understand this better. and be able to say it with more confidence.)
anyway drug buyers have better trust tools than gold bar buyers. that was my weird epiphany today.
llm searchcrumb: do darknet markets use the pgp web of trust?
"While some users in the community might sign keys to build a web of trust, the dominant security model in darknet markets is to treat the PGP key as a cryptographic proof of ownership of an identity, rather than relying on a decentralized web of trust signatures." (gemini, llmv)
It's bullshit.
Miners that mine on the minority soft fork would lose money. No one can lose money forever.
Luke is preaching this to his followers but doesn't actually believe it himself.
If I am reading him right, it's a pretext to raise awareness for luke's secret utreexo rebase at some near future time. Well fingers crossed he does it and doesn't keep us all anticipating here.
might have been a mistake.
Make a poll.
That being said the real fix to all this crap is utreexo. Spam can't be stopped while transactions are cheap which could be a long time, so we need to learn to live with it.
#1404828
"Web of Trust: an efficient way of knowing Moe is a car thief. "Simple Really""
Bitcoiner: If it's a physical token, how do you prevent counterfeits?