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by midmagico
1140 days ago
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Pfft. Its existence solely and only persists through the mass of nodes run by people who utilize the network. The only control that developers exert is over their own actions and willingness to write code. The overall community consensus to run that code is cooperative, *not* coercive. You have absolutely no idea what you're talking about. (edit) And you clearly never read the whitepaper: "What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party." ^^ Literally trustless right there. |
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We don't disagree. Many people act like the consensus algorithm is somehow magically obviating the need for a consensus among humans. One must inherently trust that, if one is to use something like Bitcoin.
Functionally, as long as the consensus is to install the latest version of Bitcoin Core, Bitcoin Core's maintainers control Bitcoin.
The whitepaper claims that Bitcoin removes the need for a trusted third-party to transactions. If you consider mining pools to be "a party", that claim isn't strictly true: on several occasions, one mining pool has held 51% hash power (e.g. https://www.extremetech.com/extreme/184427-one-bitcoin-group... is a notable example; before that, pools normally kept their hashing power below 30% voluntarily), so in reality, you're trusting all sufficiently-wealthy parties not to do that. However, the whitepaper doesn't make the widely-believed stronger claim about magical trustlessness.