Don’t trust verify
Discussion
Thats what they say but its really just decentralized trust
Where does the trust come in?
in Bitcoin - trust gets restructured and distributed. You trust a distributed system of economic incentives, cryptographic proofs, and network consensus rules.
You are trusting the *system* - you're trusting that the majority of miners won't collude, that the cryptographic assumptions hold, that the network effects will continue. This all results in
- No single point of failure
- Adversaries need to compromise many independent actors
- Everything is transparent and verifiable by anyone
- Economic incentives align individual self-interest with network security
Trust in bitcoin is real- it's just spread across cryptography, economics, and thousands of independent participants rather than concentrated in a single entity.