bitcoin doesn’t eliminate the need for trust
what it does is push trust to the periphery, instead of pulling it into the center
the answer for secrets management is trusting your family and friends with shards and social recovery
the answer for scaling will come from dunbar number uncle jim operations of LN routing, mints and local pools
the answer for trading is p2p cash on a personal level
the answer for mining is more localized distributed mining
unlike the nation state, which is financially incentivized to centralize power and decision making, bitcoin is designed to be a trustless structure that enables all kinds of models of trust at the edges
yes, organized power can come first for the exchanges, the big mixers and liquidity providers, the public miners, the payment processors, but as more and more of these operations migrate to the periphery, the return on violence to come after them is reducing
NgU Engineer / UNLICENSED MONEY TRANSMITTER
npub1j6s…u56u
2024-04-25 22:29:24
Author Public Key
npub1j6st8crn3ellpqu2hjgql3y0v8hlaauq6966dwevqfqzge2khvlq5fu56uPublished at
2024-04-25 22:29:24Event JSON
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"content": "bitcoin doesn’t eliminate the need for trust\n\nwhat it does is push trust to the periphery, instead of pulling it into the center\n\nthe answer for secrets management is trusting your family and friends with shards and social recovery\n\nthe answer for scaling will come from dunbar number uncle jim operations of LN routing, mints and local pools\n\nthe answer for trading is p2p cash on a personal level\n\nthe answer for mining is more localized distributed mining\n\nunlike the nation state, which is financially incentivized to centralize power and decision making, bitcoin is designed to be a trustless structure that enables all kinds of models of trust at the edges\n\nyes, organized power can come first for the exchanges, the big mixers and liquidity providers, the public miners, the payment processors, but as more and more of these operations migrate to the periphery, the return on violence to come after them is reducing",
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}