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by ntr-- 1858 days ago
"Trusted backbone transaction processors" that don't use megawatts of power to do this work have existed for some time as "banks".
1 comments

No. In this design users don't trust miners. Users trust Bitcoin. This is important. Banks can censor. Banks can go down. Banks can be forced to confiscate your money by a single court. But if one miner were to act up, other miners around the globe could keep them in check, and apps and users could switch around as desired. It's an incentivized complete system that you can't reduce this way.