[sjsdaiuasgdia]

This song is almost as old as Bitcoin itself.

2013: https://bitcoin.org/en/alert/2013-08-11-android

All that trust I have to put in the non-crypto financial system doesn't seem too bad when you realize that the trust picture isn't all that different in the crypto world.

Do you trust that the exchange won't steal your money?

Do you trust that the software developers haven't intentionally or accidentally left any holes in the software you use to manage your money, or the smart contracts you interact with?

Do you trust the vendor you're buying from to not steal your money? If you're thinking "escrow services", do you trust the escrow service to not steal your money?

Do you trust in all that, and more, sufficiently to operate in a system where there is no way to undo erroneous or malicious transactions? Except for like when ETH rolled back the chain after the DAO incident...you know, going contrary to the immutable ledger concept this whole mess is built on...what you might even say is the most essential trust in crypto.

[DennisP]

I'm just going to cherrypick one point here: the crypto version of escrow services can't steal your funds. The idea is to use 2-of-3 signatures, in some kind of smart contract (even a really basic one that Bitcoin can support). If buyer and seller sign the transaction, the escrow service never sees it. If buyer and seller disagree, then the escrow service decides whether buyer or seller gets the money. The escrow service never holds the money, the contract does that.